A growing problem for U.S. lenders is fraud perpetuated by criminals using synthetic identification to obtain credit. Unlike identity theft, where a criminal uses stolen identification elements of a real person (Social Security number, date of birth, payment card number, etc.), synthetic identity fraud involves creation of false elements. Since the problem was first discovered seven years ago, these fraudulently established accounts have almost always been written off as losses to credit rather than fraud, despite the fact that when they went to collection there was no one to contact. Hard ...