Card fraud is getting a boost, thanks to criminals that have shifted their focus from counterfeiting plastics to counterfeiting identities.
Aite published analysis that suggest that synthetic identity fraud is growing at a rate of about 20% every year on card portfolios. By 2020 it is expected that card issuers will lose about $1.2 billion due to synthetic identities.
This is an interesting chart that shows the trajectory of growth each and every year.
