Financial institutions are grappling with an escalating synthetic identity fraud crisis as criminals leverage generative AI to create synthetic identities from stolen information and enable attacks through the use of deepfake-generated identity documents at an unprecedented scale. This session explores the fraud journey, from the creation of identities using generative AI technology to the execution of large-scale bot-driven attacks leveraging deepfake capabilities. Our expert panel will discuss real-world examples of AI-enhanced synthetic identity operations, share insights from recent industry data showing increased concern over synthetic fraud losses, and examine both device risk detection and identity verification models used to combat these threats. Attendees will gain practical intelligence on current fraud trends, detection strategies, and how financial institutions can strengthen their defenses.