Understanding Synthetics

The word "synthetic" first gained prominence in the 1960s with the rise of synthetic fibers – artificial materials that revolutionized the textile industry by combining chemical components to create something new. This same concept – creating something artificial by combining various parts – has evolved far beyond manufacturing. Today, it appears in everything from synthetic data powering AI models to synthetic oil lubricating engines. However, in the realm of cyber fraud, this concept takes a concerning turn. Criminals have adapted this principle of combining components, creating synthetic identities by stitching together fragments of real and fake personal information. Like a digital version of Frankenstein's creation, these synthetic identities appear real but are entirely fabricated, posing a sophisticated threat to our financial systems that traditional fraud detection methods struggle to identify.

Interactive Quiz for Understanding Synthetics

Interactive Quiz for Mastering Synthetic Concepts

Hands-on Scenario

At FinSecure Bank, your sharp eye for detail is our frontline defence against fraud. Today, we're diving into a growing threat: synthetic identities in your customer portfolio. Ready to sharpen your skills? This exercise will have you step into the shoes of a cybercriminal for a day (don't worry, it's all for training!). We'll guide you through building a believable synthetic identity that can be used to apply for credit or conduct fraudulent purchases, just like the ones cybercriminals create.