I was visiting the ABA DSS forums and I saw something interesting they are doing over there.
Some of their members are using an anti-fraud system called Trust Who.
In a nutshell, the TrustWho service verifies peoples identities by receiving faxed or scanned copies of photo ID and by verifying telephone numbers.
While this will certainly not prevent fraud, it does seem to me that people will be less likely to commit fraud if their real identities are known.
What do you think?