Final answer:
The act of illegally reproducing or altering a check to deceive and steal funds is known as Check fraud. This criminal activity can involve various methods such as forging signatures or changing check details and is distinct from other financial crimes like identity theft and embezzlement.
Step-by-step explanation:
This occurs when a check is illegally reproduced or altered with the intent to deceive and steal funds. The correct answer is c) Check fraud.
Check fraud is a criminal act that involves the unlawful use of checks to illegally acquire or borrow funds that do not exist within the account balance or account-holder's legal ownership. Most commonly, check fraud occurs when an individual writes a check from their own account with insufficient funds, with the intent to defraud the recipient.
Another form is when someone forges a signature, or alters the check in some way that changes the value or routing information to redirect the money to themselves. It's different from identity theft, where the thief uses someone else's personal information to steal their identity and commit fraud, and from embezzlement, where someone misappropriates funds they were trusted with. Check fraud is a significant issue because it can result in substantial financial loss for both individuals and businesses.