Is It ID Theft Or Was The Bank Robbed?

from the which-one-seems-more-accurate dept

Via Clay Shirky, comes a very good point from Kevin Marks concerning claims of "identity theft," where he notes that identity theft is not actually an identity being stolen but is usually a bank/credit card company being robbed and passing off the blame for their own poor security on the victim. He point to a brilliant comedy routine by Mitchell and Webb that makes this all pretty clear:
"They took all the money? That sounds more like a bank robbery."
"No, no. If only. 'Cause we could take the hit. No, no. It was actually your identity that was stolen, primarily. It's a massive pisser for you."
"But, it's actually money that's been taken..."
"Yes"
"From you?"
"Kind of."
"I don't know what you want from me other than my commiserations."
"You see it was your identity. They said they were you!"
"And you believed them?"
"Yes, they stole your identity."
"Well, I don't know. I seem to still have my identity, whereas you seem to have lost several thousands of pounds. In light of that, I'm not sure why you think it was my identity that was stolen instead of your money."
The problem isn't "identity theft." It's bad security and verification processes by a financial institution.

Filed Under: identity theft, scams, security


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  1. icon
    diabolic (profile), 19 Aug 2009 @ 11:50am

    Re: Re:

    Actually my credit card was stolen and there were lots of bogus charges. While the credit card issuer refunded the money the stores/vendors all came after me. It was a big hassle and I had to hire a lawyer to send some letters to them on my behalf. It look months to get everything straight. I was one letter/phone call from suing Home Depot for harrassing me. By trying to make me a victim twice Home Depot lost my business for life. "Identity theft" hurts everyone involved (except the thief), not just the corp fronting the money.

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