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Ugh. "Identity Theft" is a term invented by the finance industry to victim-blame when their weak authentication mechanisms are compromised. We should instead ta
by dboreham 4y ago
Ugh. "Identity Theft" is a term invented by the finance industry to victim-blame when their weak authentication mechanisms are compromised. We should instead talk about "Banks being defrauded by criminals due to lax procedures".
- dragonwriter 4y ago> "Identity Theft" is a term invented by the finance industry to victim-blame “Identity Theft” blames to the exploiter, instead of the (possibly negligently) exploitable system; it is shifting blame, but not principally to the victim. > We should instead talk about "Banks being defrauded by criminals due to lax procedures". If we want to focus responsibility on the banks, we should instrad talk about “Banks failing to safeguard customer funds”, or “Banks enabling criminals to steal customer funds.”
- janalsncm 4y agoJust so it’s clear, if person A borrows money from bank B under person C’s name, person C will have to fix the problem. And make no mistake, it’s a huge problem. It will affect person C’s credit score and potentially cause loss of property as bank B will hound person C for their money back. This is in spite of the fact that there may be no relationship between B and C or A and C. And then credit reporting agencies D will happily report the lie from B, that C owes money to B. It’s completely upside down. And good luck getting the local police to fix the issue. https://youtu.be/otU-1Il7GfM https://youtu.be/otU-1Il7GfM
- supertrope 4y agoYeah. It's burden shifting. It should really be called "weak fraud controls." When one withdraws cash the bank is liable for unauthorized withdrawals so they use 2FA (debit card + PIN) and for larger amounts they check two forms of ID.