Final answer:
Identity theft occurs when someone wrongfully acquires and uses a person's personal information without permission, resulting in financial losses and damage to their reputation.
Step-by-step explanation:
Identity theft occurs when someone wrongfully acquires and uses a person's personal information without permission. This can include personal identification, credit, or account information.
The stolen information is used to impersonate the victim and can result in financial losses and damage to their reputation.
It is important for individuals to take steps to protect their personal information and be cautious when sharing information online.