If we were living in a society where children weren't mollycoddled then I may agree KB but if you can't cope with seeing your results in public then I have no idea how they are going to cope in the working world! I would use the phrase "Character building" but actually it's not even worthy of calling it so.
I do not see what the issue is. They are still put on a notice board but students are saved from the stampade trying to reach close to the notice board to see their results. I do not see how lying is going to increase as a result of this, you always have to provide copies of your qualifications to future employers and postgraduate admissions tutors. They are what matters, not whether Mickey or Jackey from the same residence hall/college got a first glimpse of your results before you and have something to gossip about for the next few days.
We used to put the results in my University on a notice board. Now we post them to the student's chosen address (typically abroad as so many of our students are overseas) and provide summary statistics publicly for comparison purposes.