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
    Fiercedeity (profile), 19 Aug 2009 @ 10:15am

    Re:

    For the web,
    -customer selected image to help identify the correct website (prevents phishing)
    -password for identifying your computer (needed when you use a computer for the first time)
    -Then your regular username/password.

    Every banking website I've used (not credit card sites though) has used this process. I don't know about you, but I take great comfort in the fact that my bank requires those measures... I mean, you can do pretty much ANYTHING to your account once logged in, so I don't really think it's and inconvenience.

    My current bank site requires me to type in my account number and password. The account number isn't very long like some banks, so it's quite easy to remember. Then you answer two security questions (Name of your first pet, etc. Stuff you choose beforehand), then verify that your chosen security picture and quote is shown. If you use cookies you can allow your computer to be verified, and then you only have to answer one security question. It's not foolproof, but it's a great system overall.

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