Not really. The prices of leaked data are already at rock bottom.
People can do very lucrative things with your identity that dont cause any liability to you. This may be more common than the horror stories, and there is no way to collect the data.
Think about it, someone shut out of the credit system uses your identity and gets a credit card and helps improve your credit score. Many people might see the unfamiliar line and just not bother, many people would never notice.
Think about things which wouldn't get reported: you would never know if someone had opened another checking account in your name, right now.
What about doing ID verification at an exchange merely to pass know-your-customer and anti-money laundering requirements to get greater withdrawals? Innocuous, as all account holders have to do that.
Yeah some people are probably getting framed.
Its more likely that this gets investigated properly and shocks everyone into repealing some money-stigmatizing laws since the wrong people are getting indicted.
People can do very lucrative things with your identity that dont cause any liability to you. This may be more common than the horror stories, and there is no way to collect the data.
Think about it, someone shut out of the credit system uses your identity and gets a credit card and helps improve your credit score. Many people might see the unfamiliar line and just not bother, many people would never notice.
Think about things which wouldn't get reported: you would never know if someone had opened another checking account in your name, right now.
What about doing ID verification at an exchange merely to pass know-your-customer and anti-money laundering requirements to get greater withdrawals? Innocuous, as all account holders have to do that.
Yeah some people are probably getting framed.
Its more likely that this gets investigated properly and shocks everyone into repealing some money-stigmatizing laws since the wrong people are getting indicted.