What is the difference between consumer fraud and identity theft?

Consumer fraud and identity theft are both types of financial crimes occurring in Alaska, and are similar in that they both involve the illegal use of someone else’s information. However, there are several differences between the two. Consumer fraud involves an individual making false or deceptive claims about a product or service in order to get someone else to purchase it. This could be done through false advertising of a product or service, bait and switch tactics, or telemarketing fraud. Identity theft occurs when someone uses another person’s personal information such as a Social Security number or financial account information without permission. Identity thieves may use this information to open credit cards, bank accounts, or even file tax returns in the victim’s name. In Alaska, consumer fraud is a misdemeanor offense punishable by up to one year in jail and a fine up to $10,000. Identity theft is a felony punishable by a jail sentence of up to 10 years and a fine of up to $100,000. It is important to understand the differences between these two types of crimes as they each come with their own set of potential legal consequences.

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