alt Hacker NewsIt's a two-sided coin though.
We should be stopping leaks, but we also need to reduce the value of leaked data.
Identity theft doesn't get meaningfully prosecuted. Occasionally they'll go after some guy who runs a carding forum or someone who did a really splashy compromise, but the overall risk is low for most fraudulent players.
I always wanted a regulation that if you want to apply for credit, you have to show up in person and get photographed and fingerprinted. That way, the moment someone notices their SSN was misused, they have all the information on file to make a slam-dunk case against the culprit. It could be an easier deal for lazy cops than going after minor traffic infractions.
The problem with "identity theft" specifically is that, in itself, it's just a legal term for allowing banks to save on KYC by letting them transfer liability to society at large.
If someone uses your SSN to take a loan in your name, it shouldn't be your problem - in the same way that someone speeding in the same make&model of the car as yours shouldn't be your problem, just because they glued a piece of cardboard over their license plate and crayoned your numbers on it.