"Identity Theft" shouldn't even be a thing. Someone falsifies documents and takes out a loan or something that should not have been approved. That's bank fraud and should be an issue entirely between the fraudster and the lender/bank.
Somehow banks have re-named it from "bank fraud" to "identity theft," deftly shifting responsibility onto some unrelated third party, who now has to deal with it. "Your identity was stolen! That makes you the victim. Now go help fix it!"
Banks should not be able to shift the blame. They did a crappy job and lent money or opened an account for someone they shouldn't have. They are the ones who should bear the burden of mopping up their mistake.
Somehow banks have re-named it from "bank fraud" to "identity theft," deftly shifting responsibility onto some unrelated third party, who now has to deal with it. "Your identity was stolen! That makes you the victim. Now go help fix it!"
Banks should not be able to shift the blame. They did a crappy job and lent money or opened an account for someone they shouldn't have. They are the ones who should bear the burden of mopping up their mistake.