True, though if someone is going to be smart enough to know HISTFILESIZE=0, they are probably smart enough to change their prompt and shell options :). Always a challenge to keep ahead of the nefarious!
All goes back to the original poster's question - is this for just general command tracking, or for actual security concerns. Relying on bash history for security purposes is risky. That's why running screen or sudo-io would be preferred in security situations, as the end user cannot override those.
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