WASHINGTON—The Financial Services Roundtable (FSR) today commended a bipartisan group of Senators for sending a letter urging the Social Security Administration (SSA) to combat synthetic identity fraud by modernizing its infrastructure to enable real-time validation of Social Security Numbers.
“Banks and payment companies look forward to working with Congress and the SSA to better protect America’s most vulnerable consumers from the growing threat of synthetic identity fraud,” said FSR’s Vice President of Government Affairs for Payments, Jason Kratovil. “Today’s action from a bipartisan group of Senators highlights how rapidly this threat has grown and the need for swift action.”
The letter was sent by Senators Cassidy (R-LA), McCaskill (D-MO), Scott (R-SC), and Peters (D-MI).
