News Summary

• Deepfake-enabled fraud alone caused more than $200 million in losses in the first quarter of last year.
• Synthetic identity fraud is the operating condition for every business that onboards customers digitally.
• The industry’s default response — collect an ID, verify it, move on — was not designed for it.
• A convincing fake ID passes the same OCR and liveness detection as a legitimate one.
• But it cannot reproduce — not convincingly, not at scale — the full context of a real person's digital existence.