Well, I would not put it that way, but the point is valid in legal terms. ID theft is theft only to the extent that the information has been accessed, but it is not to be confused with the use of the information, i.e. mainly fraud.
Is It ID Theft Or Was The Bank Robbed? (TechDirt, 19 August 2009)
Is It Identity Theft Or A Bank Robbery, Part II: Couple Sues Bank Over Money Taken (TechDirt, 11 September 2009) – well the side effect of crime: civil liability for the banks, especially if they were grossly negligent. However, in criminal terms, there is rarely crime by omission.