Creating Synthetic Identities for Bank Fraud

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The speaker discusses their fraudulent activities involving creating synthetic identities for bank fraud. They obtain social security numbers and use them to apply for credit cards, eventually building credit scores for these synthetic identities. They express surprise at the success of their scheme and wonder how they can monetize it.

Matthew Cox is a former con man who served 13 years in federal prison for bank fraud, mortgage fraud, and identity theft. He is the author of many books, including his memoir Shark in the Housing Pool, and runs the YouTube channel Inside True Crime. Please support this podcast by checking out our sponsors:
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Transcript: https://lexfridman.com/matthew-cox-transcript

EPISODE LINKS:
Matthew’s YouTube: https://youtube.com/@InsideTrueCrime
Matthew’s Instagram: https://instagram.com/insidetruecrime
Matthew’s Art Instagram: https://instagram.com/coxpopart
Matthew’s TikTok: https://tiktok.com/@matthewcoxtruecrime
Shark in the Housing Pool (book): https://amzn.to/3S52EEy

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OUTLINE:
Here’s the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.
(00:00) – Introduction
(08:43) – Mortgage fraud
(23:32) – Creating fake people
(57:17) – Arrested by FBI
(1:14:08) – Omerta: Code of silence
(1:36:26) – Fake ID’s
(2:05:48) – Getting caught
(2:19:12) – Going on the run from FBI
(2:30:54) – Identity theft
(2:51:34) – More scams
(3:03:23) – FBI Most Wanted
(3:05:51) – Close calls
(3:36:46) – Break up with Becky
(3:41:26) – Calling parents
(3:43:25) – Calling FBI
(3:49:06) – Running from cops
(4:10:56) – Getting arrested
(4:26:21) – Snitching
(4:42:35) – Prison
(5:00:08) – War dogs
(5:06:50) – Frank Amodeo
(5:42:21) – Freedom
(5:53:15) – Family
(5:59:19) – Regret