Anyone that gets defrauded because they are using SSN/DOB/address as some type of identify verification/signature/authorization mechanism.
Which would include pretty much all consumer level/retail financial companies I think, but certainly is not limited to them.
When entity A defrauds entity B by pretending to be entity C, entity C should not be affected in any way, other than letting entity B know they were not party to the transaction.
In other words, it should be entity B’s responsibility to prove entity C engaged in a transaction with them before being able to affect entity C’s credit.
And that would solve all of this nonsense very quickly.
Which would include pretty much all consumer level/retail financial companies I think, but certainly is not limited to them.
When entity A defrauds entity B by pretending to be entity C, entity C should not be affected in any way, other than letting entity B know they were not party to the transaction.
In other words, it should be entity B’s responsibility to prove entity C engaged in a transaction with them before being able to affect entity C’s credit.
And that would solve all of this nonsense very quickly.