ID Analytics Uncovers Thousands of Identity Fraud Rings in the U.S.

A new study from ID Analytics has revealed that identity fraud rings target bankcard, wireless and retail card industries.

  • Nov 20, 2012

There are more than 10,000 identity fraud rings in the U.S. according to a new study by ID Analytics' ID:A Labs. An identity fraud ring is a group of people actively collaborating to commit identity fraud. This study is the first to investigate the interconnections of identity manipulators and identity fraudsters to identify rings of criminals working in collaboration.

While many of these fraud rings are made up of two or more career criminals, others are family members or groups of friends. The ring members may be either stealing victims' identities or improperly sharing and manipulating personal identifying information such as dates-of-birth (DOB) and Social Security numbers (SSNs) on applications for credit and services.

The ID Analytics study examined more than a billion applications for bankcards, wireless services and retail credit cards and found identity fraud rings attacking all three industries, with wireless carriers suffering from the most fraudulent activity. Georgia and South Carolina were two noted hotbeds of fraudulent activities across all three industries. Two bankcard fraud rings in Gainesville and Orlando, Florida each filed 200 applications.

Each fraud ring can be examined in detail, showing the conspirators' locations, ages and relationships. For example, ID:A Labs identified a family of five in Florida involved in a fraud ring for more than three years. The family, with ages ranging from 24 to 37, had filed at least 130 fraudulent applications, using more than eight SSNs and 11 DOBs during that time period.

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