My suggestion to use the USPS NCOA procedure, and forcing financial institutions to check it before issuing loans (September 25, 2006), would depend on the idea that financial institutions actually notify account holders by mail of PINS that require verification.
I often get spam emails for credit card bills for accounts that I don't have. Sounds like ID theft, doesn't it. But my credit reports never show these accounts. So these emails (pretending to be from Royal Bank of Scotland, Barclays, and Naval Federal Credit Union, among others) seem to be just plain spam. But they get through AOL's filters.