> the term came from the banking sector themselves with the purpose of doing so
As far as I can see after a bit of research, that doesn't seem to be the case. Do you recall where you first heard that idea?
> No one has stolen any one's identity.
Nobody thinks that a victim of identity theft is left with no identity. It's figurative language just like your computer firewall isn't there to keep the flames back.
It absolutely shifts blame, and the term came from the banking sector themselves with the purpose of doing so.
I could not care less what the "correct" term is. It is credit fraud, full stop. No one has stolen any one's identity.
Obligatory Mitchell & Webb: https://www.youtube.com/watch?v=CS9ptA3Ya9E