Why in the world are banks still using SSNs as a major form of customer identification?

How Banks Are Aiding and Abetting Identity Theft

Why in the world are banks still using SSNs as a major form of customer identification?

To an identity thief, somebody else’s Social Security number is money in the bank. These nine digits unlock a world of phony credit and create a huge hassle for the poor person who actually holds that number. “The SSN remains the key that opens your life,” says Ed Mierzwinski, consumer advocate at U.S.-PIRG. “It’s the easiest way for a bad guy to pretend to be you.” So why are banks still using SSNs as a major form of customer identification?

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