Will identity theft be possible with id chips?

Has anyone researched the proposed API and implementations of this crap? Will identity theft be possible after the governments enforce these biometric id chips? How will one illegally immigrate into another country then?

I.e. with plastic card banking and IPhone identification I just register the crap onto a US citizen and get all the rights US citizen has. In fact, if I want to work illegally in America, I can just apply for the job under somebody else's identity. That works as long as they don't collect and verify biometric info.