The size of the market just for identify theft protection is 10 billion USD [0]. There is 30 billion USD in credit card fraud a year [1]. I don't think that is working well enough, that is a multiple-FTX sized loss of money every single year going into a problem that is fueled mostly by really bad underlying security systems.

0: https://www.globenewswire.com/en/news-release/2022/03/23/240.... 1: https://www.bankrate.com/finance/credit-cards/credit-card-fr...