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Law and Technology
Synthetic identity theft, or rather synthetic identity creation, has become a major breakthrough for fraudsters. The days of having to find a ‘mark’ with a good credit standing who ticks all the boxes for stealing their identity in order to defraud financial and other institutions, are fast disappearing.
As humans we have embraced the digital and electronic developments and changes of the last two decades with almost zero resistance. Trust has shifted away from where it was once necessary to meet people face to face to discuss critical issues, to where we use digital platforms on our computers and phones to do so.
Identity theft and identity fraud have been escalating unabated year on year. Identity thieves are harvesting identities and personal information, yet we see very little of this harvested information being used currently in criminal activities, which points to it being used in Sybil-like attacks in the near future.
You can delay technology by legal interference, but technology will flow around legal barriers.