Question

Fraud classification according to victims (Unwary individuals as victims):

a) Check fraud
b) Medical fraud
c) Mortgage fraud
d) Wire fraud
e) Telemarketing fraud

Answer 1

Identity theft is a form of fraud where personal information is wrongfully acquired and used without permission. It can lead to financial loss and damage trust in institutions.

Step-by-step explanation:

Fraud classification according to victims includes several types, such as check fraud, medical fraud, mortgage fraud, wire fraud, and telemarketing fraud. However, it is important to note that identity theft can also be considered a form of fraud. Identity theft occurs when someone wrongfully acquires and uses another person's personal information without their permission, resulting in financial loss and damage to their trust in institutions.

For example, in identity theft cases, thieves may obtain sensitive information like social security numbers, pins, or passwords and use it to steal the victim's identity, resulting in the draining of savings accounts and incurring massive credit card debts.

Although not mentioned in the initial list, identity theft is a significant concern that can cause financial and emotional distress to victims.