It's a new type of identity theft that's tough to catch because it might not show up on your credit report.
Experts say synthetic identity theft is the fasting-growing form of identity theft.
"Synthetic identity theft is something that can go on quite longer,” warns Steve Weisman, Bentley University professor and author of "Identity Theft Alert."
Weisman says synthetic identity theft occurs when a scammer cherry-picks multiple pieces of stolen information from several victims to create a brand new identity. The scammers then use that new identity to take out loans and open credit cards that they'll never pay off.
According to the Federal Trade Commission, synthetic identity theft now accounts for 80 to 85 percent of all identity theft.