I think we have a broken system as long as I have to care when someone tries to take out a loan in my name. I certainly don't want alerts in real time. If some

I think we have a broken system as long as I have to care when someone tries to take out a loan in my name. I certainly don't want alerts in real time. If someone takes out a loan from Foo Bank while pretending to be me, the borrower has committed a crime and Foo Bank has foolishly let themselves be robbed. It's got nothing to do with me, and I don't want an unpaid job correcting other people's mistakes. The right solution would be a "innocent until proven guilty" approach to debt. If Foo Bank says I owe them money that I didn't borrow, I should be able to say "nope that wasn't me" and unless they have proof otherwise, that should be the last I hear of it. It shouldn't be my responsibility to prove I didn't borrow the money; it should be theirs to prove I did. Put that into law, and identity theft would no longer exist. Banks could decide whether they want to actually verify identity in a way that stands up in court ("well actually here's video of you standing in our office and stating that you want to borrow this money in your own voice, reading aloud the SHA of the contract you signed and giving us your fingerprints"), or just let their money be stolen. Either way, not my problem.