Or 'lolz' and 'roflmao' in todaze yoof speek.
Yes, stunning conclusion. Telling people that their identities have been stolen and they're about to face years of hell trying to clean up their credit, is not stopping identity theft.
Tell me, who actually thought just making a few businesses do nothing but admit they're shit at security was going to stop id theft?
Hmm.. my bank tells me they've signed me up for a free alert every time the person who stole my identity rips me off. But only for the first year. After that I'll still be ripped off, but blissfully ignorant of the fact. Because nothing of actual use has been done.
The only, and I mean only way to secure data that these companies are allowed to store is to make them bare the full financial consequences of losing it due to incompetent security or the use of inadequate software. If they don't have the tools to protect the data they're storing, after making them pay in full to clean up the credit of every customer affected, they should then be banned permanently from storing personal data. Again the punishment for failure to comply must be hard. Jail time for CEOs, who should bare the full responsibility for going cheap on IT. Quite happy to rake in the dollars selling personal data to marketing companies I'm sure, but maybe not so much if doing so means they lose everything.
There should be no legitimate defense, no 'but it was the company I outsourced my data collection and storage that done it', no 'my minimum wage employee lost his unencrypted laptop' and no 'the user checked the box that said (under a mountain of legalese) it was ok to hold his data on an insecure database for the purpose of marketing when he bought xyz from us'.
And it should not stop there. Cleaning credit won't give back the dollars/pounds you lose when you credit card interest rates skyrocket in the months your credit was shite. It won't pay back the dollars/pounds you lose when you're forced into a 'mortgage for the homeless @ 20% interest rates' in order to buy a home. It won't even pay back the dollars/pounds you lose when your insurance rates go up.
So either those services and loans should be provided by the criminals in charge of the companies that lose this data or adequate compensation paid if they can't.. Does anyone else wonder about how often these are credit card companies.. makes you wonder if shafting your credit one week, and then raising your interest rate the next isn't.. well.. you figure it out.