Real ID and Identity Theft
Reuters on the trade-offs of Real ID:
Nobody yet knows how much the Real ID Act will cost to implement or how much money Congress will provide for it. The state of Washington, which has done the most thorough cost analysis, put the bill in that state alone at $97 million in the first two years and believes it will have to raise the price of a driver's license to $58 from $25.
On the other hand, a secure ID system could save millions in Medicare and Medicaid fraud and combat identity theft.
Why does Reuters think that a better ID card will protect against identity theft? The problem with identity theft isn't that ID cards are forgeable, it's that financial institutions don't check them before authorizing transactions.
Posted on October 14, 2005 at 11:20 AM • 32 Comments