SAN DIEGO--(BUSINESS WIRE)--Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity verification and fraud prevention, today announced new research findings developed in collaboration with Datos Insights that reveal synthetic identity fraud is rapidly becoming one of the most significant systemic threats facing financial institutions. The convergence of generative AI, organized fraud rings, and scalable synthetic identity creation is reshaping fraud risk, forcing financial institutions to reassess how they combat a new era of AI-driven fraud.

Drawing on survey data from North American fraud executives and interviews with fraud prevention leaders, the research examines how synthetic identity fraud has evolved beyond traditional application fraud into a broader enabler of financial crime across credit, deposit, and check fraud channels. Findings also explore how advances in AI are increasing fraudsters’ ability to create, scale, and operationalize synthetic identities more efficiently, while highlighting the growing pressure on financial institutions to modernize identity assurance and fraud prevention strategies in response.