Upticks in Synthetic Identity FraudWhile deepfakes convincingly replicate real people, synthetic identity fraud removes the need for a real person altogether. Synthetic identity fraud (SIF) uses real information — such as real social security numbers, checking account numbers, driver’s license numbers, including those of the deceased — and combines it with fake names, addresses, and identification. However, disclosure requirements can only offer limited protection to generations who heavily rely on social media as their primary source of information. While not quite as high, 42% of Millennials and 26% of Gen X investors are consulting similar sources for financial advice. [7]How AI Makes Fraud EasierWhile the full extent of AI’s impact on fraud is still unfolding, the trajectory is clear.

Source: CNN March 13, 2026 14:58 UTC