U.S. lender exposure to synthetic identities is nearly $3 billion; Auto loans reach $1.8 billion representing more than 60% of total exposure to synthetic identities, according to an update from TransUnion (NYSE: TRU). As origination volumes for some credit products slow, a new TransUnion analysis finds fraud risk is “continuing its upward trajectory as fraudsters employ increasingly sophisticated tactics to target lenders.” TransUnion found that synthetic identity fraud continues “to be among the most prevalent,
