ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Identity theft
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Convenience
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Paying later
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Getting approved for credit
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Detailed explanation-1: -Fraudsters can open new accounts, credit cards, and loans in your name. You can lose your health care benefits (i.e., medical identity theft). Hackers can “own” your email and other accounts (account takeovers). You’ll have to repair your credit score.
Detailed explanation-2: -Unfortunately, being a victim of identity theft means your credit scores may be negatively impacted. Thieves could open new lines of credit or credit cards in your name–and fail to pay the bills.
Detailed explanation-3: -Data breaches that expose your passwords and sensitive data. Data breaches are the leading causes of identity theft. In 2022, 1, 291 data breaches have occurred to date, representing a 16% increase from 2020 [*]. Data breaches take place when hackers break into services that you use and steal your stored information.
Detailed explanation-4: -Financial identity theft. Medical identity theft. Online identity theft.
Detailed explanation-5: -Most Affected Groups. Seniors. Military Personnel. College Students. Policyholders who suspect they are victims of fraud should contact Farmers Alliance at 620-241-2200 to find out how they can work with a fraud specialist to help manage and protect their identity.