He is sort of right without knowing the full details.
Someone I know was a victim of identity theft.
Five loans were taken out in her name and quite a few others applied for but declined (one of the loans accepted was for £12k). The total theft must have been a significant amount of money.
When the police are contacted they sort of shrug their shoulders and refer you to Action Fraud who take the details of all of the crimes and after a lot of effort on your part they eventually they get taken off your credit record and written off by the companies who lent the money. The police are not really involved at any stage of this process. There doesn't seem to be any determination to investigate these crimes, they simply seem to be recorded and forgotten about. There doesn't seem to be the resource or the will to investigate and prosecute and the banks play along by taking the losses without too much fuss. Being a victim of this sort of crime is very bad for your mental health as you start to wonder who has done this to you and whether it is someone that you know.
However, if I stole say £50k's worth of goods from a property I am sure that the police would be very interested and no doubt significant resource would be thrown at the crime.
Things need to change IMO, this identity theft crime is very common nowadays - new powers and resource are needed to deal with it