SIFting out

Greg Woolf is the founder and CEO of FiVerity (www.fiverity.com).

Synthetic identity fraud (SIF) is one of the fastest-growing financial crimes, according to McKinsey & Company [1], writes Greg Woolf of FiVerity – largely due to its ability to evade banks’ traditional fraud detection systems. Once a single loan is approved, criminals are on their way to a staggering amount of theft.