Intelligence behind the fraud patterns that matter

Synectics Solutions’ new Signals report has uncovered critical fraud patterns impacting insurers, including that 52% of organised fraud shows identifiable warning signs and that 1 in 3 synthetic IDs are used repeatedly. 

In Signals: Intelligence behind the fraud patterns that matter, Synectics reveals where hidden exposure is building, how fraud moves across the ecosystem, and where focus turns next.   

Insights and interpretations are drawn from National SIRA - the UK’s largest risk intelligence consortium comprising organisations across insurance, lending, banking, telecoms, and the public sector.

Inside the report: 
• The number of synthetic IDs used repeatedly has surged by 40%. 
• 22% of fraud encountered has appeared elsewhere, often in another sector. 
• Up to 66% of victims have their stolen IDs used across the financial ecosystem. 
• 93% more victims of ghost broking were reported last year.