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Mike Cook: Synthetic identity fraud is when fraudsters or consumers use completely fake identities or manipulate a real identity for the purpose of getting financial gain. So synthetic identity fraud used to attack credit cards, wireless phones, right? And it was all about how do I get to quick, fast money? Then it moved to bust out.

And what we really see is this shifting pattern right below our feet right now, right? Following Covid and through P2P and all the economic stimulus to where synthetic fraudsters are attacking deposit accounts, synthetic identity fraud can be eradicated. I think it can be done by 2026, right? There’s a lot of different things that we can do and I won’t explain all of them, but like the number one thing is education, right?

We just need to educate our customers and educate the industry that synthetic identity fraud is there, right? It is in every portfolio. They’re gonna attack every industry, and you have got to do something to stop it or it will get into your front door.