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Hi Roberto,

I don't know much about ID Theft in France. I guess that, like in many countries, they prefer to be silent about it. I have absolutely no idea if it's a big thing or not in France.

I presume that if you show up with a fake ID and a fake utility bill, then you might get the money.

All I know is that we try to protect ourselves with lots of documents, thinking that it's harder to counterfeit, but the truth is that we've seen many reports on TV about people being stolen their identity and having a hard time proving they are who they pretend to be, and that they did not do what the fraudster did pretending to be them.

Official documents may put the hurdle higher, but it decreases the flexibility of the clearing process once you're ID is stolen.

Hi Roberto,

In France, to be granted a loan by a bank, you need to open an account first.

In order to do so, you need to provide them with:

• printed copy of your ID card
• proof that you still live where you claim to live (last Electricity bill usually)

Then they can check your credit history and decide to grant you with a loan or not.

Most of the time, they just check that your debt is not over 30% of your income.

Hope it helps,

Cedric

I'm not sure they care.

Put yourself in the shoes of a bank.

Say you are losing $100 millions in fraud + fraud detection.

But you are making $250 millions in selling insurance to your customers to fight against fraud.

Would you really be motivated to act in the best interest of your customers?

ps:

I'm going to write a post about it. I'm interested in having the opinion of all the experts of the Finextra community on it.

Thank you David for raising this issue.