Outperform: Socure’s Sigma Synthetic Achieves Unprecedented 74% Fraud Capture

Socure presents Sigma Synthetic as an identity fraud detection model designed to identify manipulated and fabricated synthetic identities during onboarding, high-risk authentication, and portfolio screening. The company reports that its latest model captures 74% of fraud at a 3% risk depth and 59% at a 1% risk depth, while claiming substantially greater accuracy than competing synthetic fraud and credit bureau tools. Sigma Synthetic combines historical and third-party data, expert human labeling, Social Security number metadata, and “proof of life” records such as property, driver’s license, and education data to detect inconsistencies and verify thin-file applicants. Socure says the approach can reduce fraud while limiting friction for legitimate users, including younger and new-to-country consumers, and that regular portfolio screening can uncover dormant threats and compliance risks. The enhancements are available to existing customers without added cost, and a cited retail-bank study estimated potential annual savings of about $27 million in fraud losses and $20 million in added revenue from fewer false positives.

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