Which of the following is TRUE about recent trends in identity theft?Question 17AnswerYoung people are never victims of identity theft.Most cases of identity theft result in a large dollar amount lost.The number of identity theft reports has significantly decreased over the past decade.Most cases involve the unauthorized use of credit cards or bank accounts.
Question
Which of the following is TRUE about recent trends in identity theft?Question 17AnswerYoung people are never victims of identity theft.Most cases of identity theft result in a large dollar amount lost.The number of identity theft reports has significantly decreased over the past decade.Most cases involve the unauthorized use of credit cards or bank accounts.
Solution
The statement that is TRUE about recent trends in identity theft is: "Most cases involve the unauthorized use of credit cards or bank accounts."
Here's why:
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"Young people are never victims of identity theft." - This is FALSE. Identity theft can happen to anyone, regardless of age. In fact, young people may be particularly vulnerable because they often have clean credit histories.
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"Most cases of identity theft result in a large dollar amount lost." - This is also FALSE. While some cases of identity theft can result in significant financial loss, many others may result in smaller amounts of money being stolen. It's also important to note that the impact of identity theft isn't just financial; it can also cause significant emotional distress and take a lot of time to resolve.
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"The number of identity theft reports has significantly decreased over the past decade." - This is FALSE. According to the Federal Trade Commission, the number of identity theft reports has actually increased over the past decade.
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"Most cases involve the unauthorized use of credit cards or bank accounts." - This
Similar Questions
Which of the following does not describe “The Perfect Identity Theft Victim”?Question 19AnswerRarely communicates with bank or credit union.Seldom looks at account balance.Does not check credit reports.Checks account balances and statements at least monthly.
Which statement primarily appeals to ethos, or character, to support the position that people should take more preventative measures to protect themselves from identity theft?Working in banking for the past two years has made me much more careful about protecting my identity, as my awareness of identity theft has increased.The rate of identity theft has risen over the past few years, and thus consumers would be wise to take extra precautions to secure their accounts.Submit
Who should you notify if you are the victim of identity theft?A.Social media outletsB.Your neighborC.Your local television stationD.Your bank and credit card companies
Which statement about digital payments is true?A.Digital payments are more common than ever.B.Digital payments are being replaced by cash and credit cards.C.Digital payments are becoming less safe than ever.D.Digital payments are more convenient for buyers but less convenient for sellers.
hat does not fall under the ambit of Identity Theft? a) Illegally obtaining the personal or financial information of another person b) Fraudulent actions c) Making authorized transactions d) Making unauthorized transactions and purchases
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