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Three million ‘Frankenstein’ identities pose a multi-billion pound fraud threat: LexisNexis Risk Solutions

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LONDON, June 12, 2024 /PRNewswire/ — The latest fraud threatening the UK could cost businesses at least £4.2billion if appropriate steps are not taken, new research from LexisNexis Risk Solutions shows.

A new study looked at over 72million consumer profiles and found 2.8million showing several signs of ‘Frankenstein cloning’, where fraudsters stitch real and made-up personal details together to create a ‘new’ synthetic identity to spoof credit checks and commit high-value fraud against banks and credit providers.

In the U.S. where synthetic fraud is already a major issue, businesses report an average $15k[1] loss to each confirmed synthetic fraud case. As a result, experts at LexisNexis Risk Solutions estimate that it could cost the UK economy around £4.2billion by 2027, unless firms start properly screening now, for the threat.

Most organisations’ existing fraud defences are ineffective against synthetic identities because they appear as normal, good customers until the fraud is committed. Once they ‘bust out’ with the funds, the lender is left to suffer the loss, as there’s no ‘real’ person to pursue for the debt.

Noreen Altaf, Identity Fraud specialist at LexisNexis Risk Solutions, explains: “At first, a synthetic ID has little value to a fraudster, as it has no credit history, so they need to play the long game. Scammers nurture each false identity by building what appears to be a real credit profile over time, making the synthetic ID seem like a trustworthy customer – because of this the fraud threat is effectively invisible to firms’ existing fraud defences, until it’s too late.

“Once a fraudster thinks the synthetic ID has enough plausibility, they’ll aim to max out available credit lines. This might be applying for a loan or credit card for thousands of pounds, taking a PCP contract for a new vehicle, or making a high-value purchase via a buy now pay later arrangement. The fraudster has no intention of repaying this, leaving organisations to foot the bill and chasing ghosts to recover the debt.

“There is still much businesses don’t know about this fast-emerging threat, so it’s difficult to predict the true potential cost of synthetic fraud to the UK. However, even a very conservative estimate of a £1,500 loss per fraud attack amounts to £4.2 billion in future credit write-offs for companies, with synthetic identities already hiding amongst their customer base – and it could be a lot higher.”

The study found strong evidence of scammers up and down the country using ‘synthetic farms’ in rural locations and ‘synthetic factories’ in urban areas to build up the credit scores of new synthetic identities on an industrial scale, in readiness for fraud attacks.

In one example, rental cottages based on a farm in Chichester appeared to have 439 highly suspect identities ‘living’ there over the past seven years, only 22 of which showed any evidence of being real people. The identities were making hundreds of applications for credit, such as short-term and payday loans and some were also linked to a similar farm hundreds of miles away near Dundee, Scotland. 

A heat map produced alongside the report shows similar activity is happening across the whole UK. Suspected synthetic farms can be seen in multiple locations across rural Wales and the Scottish Highlands.

Noreen continues: “A common characteristic of synthetic farms and factories is that they are properties where the mail can be easily intercepted by the fraudsters making credit applications. A farm, for example, might have a mailbox that’s at the end of a track, while empty buildings or shared mailboxes in cities can be exploited in a similar way.

“Synthetic fraud has been around for a while, but with sophisticated fraud modelling, we can, for the first time, more accurately detect and put a figure on it.

“Businesses need to act fast to protect themselves by investing in tools capable of spotting synthetic identities at application or onboarding stage, before they become customers. Given the length of time fraudsters have already been creating and nurturing synthetic identities in the UK – as evidenced by our research – banks, lenders and credit providers, in particular, should take appropriate action to review their existing portfolios to ascertain the extent to which synthetic identities may have infiltrated their organisations over time, before those identities get a chance to cash out.”

About LexisNexis Risk Solutions  

We harness the power of data, sophisticated analytics platforms and technology solutions to provide insights that help businesses reduce risk and improve decisions to benefit people around the globe. LexisNexis Risk Solutions have multiple offices across the UK and throughout the world and are part of RELX PLC (LSE: REL/NYSE: RELX), headquartered in London, a global provider of information-based analytics and decision tools for professional and business customers. For more information, please visit LexisNexis Risk Solutions and RELX.

[1] Synthetic identity fraud: A $6 billion problem, KPMG, 2022, KPMG.com

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Veterans Guardian Receives 2026 Gold HIRE Vets Medallion Award

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November 12, 2026

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PINEHURST, N.C., Nov. 12, 2026 /PRNewswire/ — Veterans Guardian VA Claim Consulting is honored to announce that the U.S. Department of Labor has awarded us the 2026 Gold HIRE Vets Medallion Award. This distinction celebrates our demonstration of patriotism, and our recognition of the immense value veterans bring to the workplace. The HIRE Vets Medallion Award is the only federal award that honors organizations for their outstanding commitment to recruiting, employing, and supporting America’s veterans.

Veterans Guardian has proudly earned the HIRE Vets Medallion Award every year since 2019. The Gold HIRE Vets Medallion is awarded to companies that not only hire veterans but also actively support a workplace that honors their service, supports their career development, and appreciates the strength and leadership veterans offer. We remain committed to creating an inclusive, empowering environment where veterans’ patriotism, experience, and contributions are acknowledged and honored.

“Receiving the 2026 Gold HIRE Vets Medallion Award is a tremendous honor and a reflection of our firm commitment to those who have served our nation,” said Scott Greenblatt, LTC (RET), US Army, CEO and Founder of Veterans Guardian VA Claim Consulting. “Our veterans have dedicated themselves to protecting our freedoms, and we believe that dedication deserves to be met with meaningful opportunities, continued support, and a workplace where their service and sacrifices are truly valued. Since 2019, we’ve remained committed to empowering veterans as they transition into civilian careers, recognizing the extraordinary leadership, resilience, and experience they bring to our organization. Supporting veterans isn’t simply part of what we do—it’s the foundation of who we are and the mission that guides us forward every day.”

Veterans Guardian’s dedication to veterans goes beyond employment. Through its mission of helping veterans navigate the VA disability claims process and pursue the benefits they have earned, the company continues advocating for those who have served. This acknowledgment reflects Veterans Guardian’s commitment to creating meaningful career opportunities while fostering a workplace where veterans can thrive, contribute, and build successful futures beyond military service.

“Our veterans possess a unique strength, resilience, and skill set that greatly improves our workforce,” Greenblatt added. “Our mission and values drive our commitment to hiring and supporting veterans, and it’s gratifying to recognize the positive impact we’ve made on their lives, as well as the impact they continue to make within our organization.”

The HIRE Vets Medallion Award recognizes organizations nationwide that show outstanding commitment to veteran employment and professional development. Veterans Guardian VA Claim Consulting is deeply honored to be named a 2026 Gold Medallion recipient, reaffirming our ongoing pledge to honor, support, and encourage those who have bravely served our nation.

About Veterans Guardian VA Claim Consulting
Veterans Guardian VA Claim Consulting is a leader in assisting veterans with VA claims, providing expertise and dedicated support to help veterans secure the benefits they deserve. Founded by Scott Greenblatt, Veterans Guardian is deeply committed to supporting the veteran community through advocacy, employment, and outreach. Learn more about Veterans Guardian at vetsguardian.com.

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SOURCE Veterans Guardian

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HitPaw Black Friday 2026: Save Up to 60% on AI Creative Tools

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November 12, 2026

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NEW YORK, Nov 12, 2026 /PRNewswire/ — HitPaw, an AI-powered multimedia platform specializing in video, image, and audio enhancement, generation, and editing solutions, today announced its 2026 Black Friday Mega Deal. Running from November 10 to December 7, the campaign offers savings of up to 60% OFF on a wide range of AI-powered creative tools, giving creators, businesses, and everyday users an opportunity to upgrade their creative workflows at exceptional prices.

Explore HitPaw’s AI Creative Tools

HitPaw offers specialized AI solutions for multimedia enhancement, generation, and editing, covering a wide range of creative needs:

HitPaw VikPea (AI Video Enhancer): Upscale videos to 4K, restores damaged footage, and enhances clarity, details, and colors by reducing blur and noise.HitPaw FotorPea (AI Photo Enhancer & Generator): Enhance image quality, restore old photographs, sharpen portraits, remove unwanted objects, and create AI-generated artwork.HitPaw Edimakor (AI Video Generator & Editor): Combines AI video generation with video editing capabilities, helping users create and edit engaging videos more efficiently.HitPaw VoicePea (AI Voice Changer): Transform voices in real time with realistic AI voice effects for streaming, gaming, content creation, and online communication.HitPaw Univd (AI Video Converter & Compressor): Convert and compress videos without sacrificing quality for seamless sharing across devices and platforms.HitPaw Watermark Remover (AI Watermark & Object Remover): Remove unwanted watermarks, objects, and distractions from photos and videos with ease.

From restoring cherished memories and producing social media content to creating product visuals and promotional videos for e-commerce, HitPaw’s tools support a variety of creative needs.

Unlock Exclusive Black Friday Discounts

During the Black Friday Mega Deal, customers can enjoy special discounts across HitPaw’s product lineup:

60% OFF 5-in-1 Ultimate Bundle: Get VikPea, FotorPea, Edimakor, Univd, and Watermark Remover in one package. Ideal for creators seeking an all-in-one toolkit for AI creation, video and image enhancement, editing, and file management.50% OFF 2-in-1 Bundles: Choose from two combinations: VikPea + FotorPea or VikPea + Edimakor. The first pairs video and photo enhancement, while the second offers a one-stop workflow for AI video creation and enhancement.40% OFF Individual Products: Save 40% OFF on HitPaw VikPea and HitPaw FotorPea, ideal for users focused on improving video and image quality.30% OFF Individual Products: Get 30% OFF on HitPaw Edimakor, HitPaw VoicePea, HitPaw Univd, and HitPaw Watermark Remover, catering to video creators and users looking for flexible editing and media utilities.20% OFF HitPaw Online AI Credits: Save on AI credits for browser-based tools, including video enhancement, AI image generation, photo restoration and more. A convenient option for users who prefer online creative tools without installing software.

How to Get HitPaw Black Friday Deals

HitPaw’s 2026 Black Friday Mega Deal runs from November 10 through December 7, 2026. Customers can visit the official campaign page to explore participating products, compare available plans, and claim discounts of up to 60% OFF.

For more information checking, you may visit: HitPaw Black Friday 2026: Save Up to 60% OFF, Best Deals

ABOUT HITPAW

HitPaw is a leading AI-powered multimedia platform offering video, image, and audio generation, enhancement, and editing tools. It helps millions of creators worldwide easily produce high-quality content, from transforming media to creating new visual and audio works. Learn more at: [OFFICIAL] HitPaw – AI Video, Photo & Audio Enhancer Solutions

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SOURCE HitPaw. Co., Ltd

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California Supreme Court to Decide Whether Insurers Can Hide Illegal Overcharges Behind Approved Rates, Says Consumer Watchdog

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November 12, 2026

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Ruling Will Impact Millions of State Consumers

LOS ANGELES, Nov. 12, 2026 /PRNewswire/ — The California Supreme Court will decide whether consumers can sue insurance companies for overcharges that are illegal under Proposition 103, the insurance reform enacted by the voters 38 years ago.

The case before the court concerns a class action lawsuit brought by enlisted policyholders who are good drivers. They allege that USAA, a military insurer, charged them a higher price for auto insurance than it charged officers. Proposition 103 mandates a 20% Good Driver Discount for qualified drivers and state law requires an insurance company to offer good drivers the lowest rate available, regardless of military rank.

Proposition 103 authorizes consumers to challenge violations like that in court. However, some courts have ruled that those lawsuits cannot be brought if the insurance company can argue that the Insurance Commissioner approved the rates being charged.

About 200,000 enlisted USAA customers were overcharged. However, the Supreme Court’s decision will ultimately affect millions of Californians who buy insurance for their autos, homes and businesses.

Ninth Circuit Asks California Supreme Court to Address Pocketbook Issues

The case began in federal court in San Diego, the home of many people in military service. The United States District Court for the Southern District of California ruled that after the passage of Proposition 103, the California legislature passed a bill exempting companies that only insured military personnel from the application of Proposition 103’s protections for good drivers. The plaintiffs appealed to the Ninth Circuit, pointing out that under California’s Constitution the Legislature cannot undermine laws passed by the voters through a ballot initiative.

Before the 9th Circuit, USAA made a second argument, which had been rejected by the District Court: that other state insurance laws shield insurance companies from consumer lawsuits seeking refunds, notwithstanding Proposition 103. Plaintiffs noted that Proposition 103 specifically authorizes lawsuits under the state’s consumer protection laws.

Noting that California courts have adopted conflicting interpretations of Proposition 103, the Ninth Circuit of the United States Court of Appeal then asked California’s Supreme Court to decide these issues of state law.

Representing the enlisted military in the litigation are Consumer Watchdog, the California based non-profit that defends and enforces Proposition 103; Mehri & Skalet, a Washington, D.C.-based law firm specializing in class actions and complex litigation; Mason & Perry LLP, a class action and complex litigation firm also based in D.C., Matthew Seligman, of Grayhawk Law, [more], is leading the plaintiffs’ team before the Supreme Court.

The case is Coleman v. United Services Automobile Association, No. S298496. Review the complaint in the lawsuit. The Ninth Circuit’s certification to the California Supreme Court is available here. (Coleman v. United Services Automobile Ass’n, No. 25-793, slip op. at 3–15 (9th Cir. Sept. 10, 2026)).

Consumer Watchdog is a nonprofit, nonpartisan organization that advocates for taxpayer and consumer interests, with a particular focus on insurance, health care, privacy, energy, and corporate accountability. Consumer Watchdog represents consumers in proceedings enforcing Proposition 103’s protections.

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SOURCE Consumer Watchdog

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