Unlike USA, most countries have a more stringent ID system so that this scenario simply does not happen. Like, it technically can happen but in practice does not - I spent a few years working in a bank on fraud, and we had zero cases of a forged ID. We had attempts with stolen IDs (there's an electronic database of IDs reported lost/stolen, but there's a time gap until people report that), we had gangs trying to use homeless people (with their real IDs) for money laundering, we had all kinds of interesting fraud schemes but zero cases of forged IDs used to open accounts.
An ID is hard to forge (again, as far as I understand in USA it's different because USA doesn't have a proper ID system) - counterfeiting currency is simpler than passports, and has ways of remote verification (banks use it to e.g. verify when their customers have been declared dead which has all kinds of financial obligations to the institution) so you'd generally need to get someone in the actual government agency to issue a real fictitious ID; that's definitely possible but very rare, that's within the domain of sophisticated organized crime and costly/risky enough to make it not worth it for simple fraud - like, getting a real poor person with a real ID to do what you want is simpler and cheaper, so that's what criminals did.
Also it's risky to use, as forging IDs is a felony by itself, and you'd risk immediate arrest by going to a bank and trying to use it; I believe we had one fraudster arrested in the branch when trying to use a stolen ID, it was more than a decade ago so I don't remember the details.
So someone opening a bank account with my ID and name would require my passport being stolen without noticing it and, crucially, when I do notice it and report it (to get a replacement) the old ID is invalidated, that bank would get notified and the account would get blocked at that point as the fraudster can't provide the replacement ID. Of course, all of that isn't possible with a central registry of IDs which seems anathema to USA and UK, but is successfully used in many other countries.
Have you seen the scale of leaks over the past decade?
The point is that nobody would know that a stolen/copied id was being used and everyone gets to pat themselves on the back that the financial system is safe from illicit actors when they would have no way of knowing.
You can just go on forums like crimemarket.cn and find hundreds of people using fake IDs to open bank accounts in Germany. It's really not unusual at all in Europe.
Banks don't do much to verify IDs, they almost never even check basic security features like OVI and OVD. Usually they don't even bother with UV.
Anyone can print flawless Romanian ID cards with an inkjet printer and some teslin sheets at home, those are valid everywhere in Europe and you can even safely fly with them (outside of Romania, obviously) if you feel so inclined.
The printing inside the country is so inconsistent that they're literally impossible to authenticate offline https://temp.sh/oZGbx/ROMANIAID.pdf
Have you seen what Greek ID cards look like?
Every day, thousands of bank accounts are opened around Europe with fake IDs.
> Also it's risky to use, as forging IDs is a felony by itself, and you'd risk immediate arrest by going to a bank and trying to use it
Except not really because you'd just make sure that the ID is good before you go to the bank. Just compare against a real one or check on PRADO.
An ID is hard to forge (again, as far as I understand in USA it's different because USA doesn't have a proper ID system) - counterfeiting currency is simpler than passports, and has ways of remote verification (banks use it to e.g. verify when their customers have been declared dead which has all kinds of financial obligations to the institution) so you'd generally need to get someone in the actual government agency to issue a real fictitious ID; that's definitely possible but very rare, that's within the domain of sophisticated organized crime and costly/risky enough to make it not worth it for simple fraud - like, getting a real poor person with a real ID to do what you want is simpler and cheaper, so that's what criminals did.
Also it's risky to use, as forging IDs is a felony by itself, and you'd risk immediate arrest by going to a bank and trying to use it; I believe we had one fraudster arrested in the branch when trying to use a stolen ID, it was more than a decade ago so I don't remember the details.
So someone opening a bank account with my ID and name would require my passport being stolen without noticing it and, crucially, when I do notice it and report it (to get a replacement) the old ID is invalidated, that bank would get notified and the account would get blocked at that point as the fraudster can't provide the replacement ID. Of course, all of that isn't possible with a central registry of IDs which seems anathema to USA and UK, but is successfully used in many other countries.