2024 CLFP Recertification Quiz #3: Synthetic Identity Theft CLFP Recertification: Quiz #3: Synthetic Identity Theft 1. Fraudsters use which type of information to create synthetic identities (select all that apply): * Stolen personally identifiable information. Fictitious information. Publicly available information. Commercial use information. 2. Fraudsters use the synthetic personal identities to do which of the following (select all that apply): * Create non-profit organizations. Steal the identity of existing companies. Create false companies. Steal personally identifiable information. 3. In 2020, the Federal Reserve reported that synthetic identity theft accounted for an estimated _______ in losses for U.S. financial institutions. * 5 billion dollars. 10 billion dollars. 15 billion dollars. 20 billion dollars. 4. To protect your institution from potential losses resulting from synthetically created identities, it is crucial that you do all of the following, except for _______. * Validate the data to third-party data providers. Conduct open-source internet searches. Collect key customer identifying information prior to onboarding. Review fraudulent information with friends and family. 5. To safeguard your institution from synthetic entities, key data points to collect on all entities/individuals might include the following (select all that apply): * Full legal name of the entity/individual. Taxpayer identification number. Physical and mailing addresses. Photo identification for all guarantors and signers. Name * Name First First Last Last Email * Submit If you are human, leave this field blank.
