Blog

Public Announcement by CEO on Synthetic Identity Theft

Landmark Credit Repair

Date: February 13, 2021

IMG_3812

I was recently asked to consult in a lawsuit involving Identity Theft of all Texas drivers, totally about 27 million people. 

What exactly is Synthetic Identity Theft?

By the time that most people ask this question it’s because they found themselves victim of this particular kind of identity theft. It’s the fastest growing form of identity fraud with the percentages being as high as 80 to 85% of all the current identity thefts according to the Federal Trades Commission (FTC).

The Synthetic identity thieves are much like writers creating ‘fictional characters’ based off of real people, just mismatching different but factual information.

The process could go something like this:

  • The Synthetic identity thief would use your driver’s license number and another persons name, maybe another person’s address, phone number, etc.
  • This will then allow the imposter to apply for and obtain things such as credit cards, loans, and 
  • In some cases. criminals could keep this up for long periods of time and never get caught because there is no clearly identifiable victim, therefore often going unnoticed.

 

Brad Young

800.905.5263

5220 Bullard Rd. Tyler, TX 75703