Yeah, but that's the point, with universal secure ID all of those actions require showing your universal secure ID. You can't just give people enough information that sounds or is legit and get a loan, you need to provide your ID and have it verified.

And hey, if somebody that holds a copy of your ID leaks it you're only at risk for a bit of time, because these things expire and each new one you get looks different. It's very hard and not worth it to forge these for that reason, and if somebody went to the trouble of doing that you could easily prove it doesn't match the original you hold.

Fraud and identity theft obviously still exist, but it normally involves getting older people to sign things they didn't mean to or getting people to share their information through social engineering. But just finding your info online and generating enough debt to create a massive problem? That seems hard and reversible.