A synthetic identity - or a fake person - is not a new concept, but criminals are perfecting their scams with the use of advanced AI tools that can make even the fakest of identities seem real. Using AI to generate legitimate-looking identity documents, social media profiles, and backgrounds that can fool even the smartest of people.
The synthetic identities are used to pose as legitimate buyers, sellers, or agents, enabling them to complete fraudulent transactions or siphon funds during payment processes.
AI tools can automate the creation of fraudulent property listings with images and descriptions pulled from legitimate sources. In South Africa, these listings often target buyers seeking affordable homes or rental units. Victims are persuaded to pay deposits or transfer fees before realizing the property doesn’t exist.
In a tight rental market, tenants might often feel like they need to take risks they normally wouldn’t to secure a property, paying a deposit for a property they haven’t viewed in person, only to arrive at the address and find out the property wasn’t for rent—or even for sale. By the time the scam is uncovered, the scammers disappeared.