Identify theft/identity fraud is a bullshit risk-shifting move by the banking class.

The actual crime is classic fraud and it's directed at the banks and financiers. By inventing "identify theft", the financial sector shifts responsibility and financial consequences from themselves to the uninvolved, innocent, and frequently totally unaware individuals that fraudsters represent themselves to be.

With this system in place, instead of then requiring that banks spend the resources to verify who they believe they're doing business with (or else risk being defrauded), we have "credit monitoring" and "identity security" services and individuals being held financially and criminally liable for crimes they're often so uninvolved in they _literally don't know they happened_.