Over 10,000 Identity Fraud Rings in the US, Study Finds

ID Analytics’ ID:A Labs reveals that most criminal organizations are composed of friends

A new study performed by ID Analytics’ ID:A Labs reveals that currently there are over 10,000 identity fraud rings in the United States.

Experts found that, although in some cases the criminal organizations that specialize in identity fraud are composed of two or more career criminals, they’re usually made up of family members or groups of friends.

The crooks have filed more than 1 million applications for wireless services, retail credit cards and bank cards, but of all these industries wireless operators seem to be the most affected.

ID Analytics has found that the US states with the highest number of fraud rings are Alabama, the Carolinas, Georgia, Delaware, Texas and Mississippi. It also turns out that fraudsters don’t always target cities, but also rural areas.

“In this latest research, we have taken a broader approach, looking at connections among bad people rather than studying individual activity,” Dr. Stephen Coggeshall, chief technology officer of ID Analytics, noted.

“This information enables us to build new variables into our fraud models so we can help our customers to make better decisions and improve protection for consumers.”

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