The entire world is connected online, around 64 per cent to be exact. With this, a door of opportunity has opened for businesses across the world. However, with this opportunity comes a responsibility. The businesses are accountable for protecting the consumer’s data safe and providing a seamless experience. However, it is not easy.
With the evolution of the digital landscape, there has been a rapid rise in fraudulent activities. One of them is synthetic <a target="_blank" href="https://www.mfilterit.com/blog/indian-consumers-are-losing-money-due-to-financial-fraud-is-there-a-solution/">identity fraud</a> which costs businesses close to $5 billion in 2024.<a target="_blank" href="https://www.mfilterit.com/blog/threat-of-synthetic-identity-fraud/">Read more</a>

The entire world is connected online, around 64 per cent to be exact. With this, a door of opportunity has opened for businesses across the world. However, with this opportunity comes a responsibility. The businesses are accountable for protecting the consumer’s data safe and providing a seamless experience. However, it is not easy.

With the evolution of the digital landscape, there has been a rapid rise in fraudulent activities. One of them is synthetic [**identity fraud**](https://www.mfilterit.com/blog/indian-consumers-are-losing-money-due-to-financial-fraud-is-there-a-solution/) which costs businesses close to $5 billion in 2024.[**Read more**](https://www.mfilterit.com/blog/threat-of-synthetic-identity-fraud/)

The Rising Threat of Synthetic Identity Fraud: What Every Business Needs to Know