I think it's because all the financial systems for 95% of daily life are not tied to your identity in the same way as in the US. There is no long trail of cred

I think it's because all the financial systems for 95% of daily life are not tied to your identity in the same way as in the US. There is no long trail of credit and debt that will chase you, requiring validation and checks at every step in your life. So getting someone's identity doesn't change much. getting anything from a phone subscription to student loans, to getting jobs is basically equal no matter what. They aren't allowed to block you except in rare situations. They aren't allowed to request a lot of the information you would need in the US. And if your identity get's stolen in Europe the systems in place are way more flexible and reversible. So if a theft is found, it's effects are reasonably easy to undo. Ever noticed how identity theft in the US is never directly stolen items or money? It's all about getting access to systems (credit / accounts / banking).