The point here isn't that the targets of identity theft don't suffer, the point is that the institutions facilitating the fraud are the true perpetrators of the

The point here isn't that the targets of identity theft don't suffer, the point is that the institutions facilitating the fraud are the true perpetrators of the damage and that calling it "identity theft" makes it sound like the perpetrator is the person committing the fraud. The goal is to make it clear that when a bank allows someone to falsely represent themselves as me, the bank suffers, not me. They're the ones who messed up.