Bank Systems & Technology is running a very good article on the role of banks in fighting identity theft. The intended audience is bank CTO/CIOs, but it should be read by a wider audience.
It wisely says that security of personal information is not just a technology issue. It is a people issue and a cultural issue. You have to get everyone involved. It also requires going back to the beginning and looking at your information holistically. Ask yourself whether you really need all that information in the first place. Tax laws may require the bank to have the customer's SSN/SIN, but there really is no reason to have it accessible by tellers or included in ordinary databases. Since most breaches involve insiders, limit access to the bare minimum that is required to support your operations. All good practices.
Read the article here: Bank Systems & Technology : Maximum Security.