What is the difference between consumer fraud and identity theft?

Consumer fraud and identity theft are two different forms of criminal activities that consumers should be aware of. Consumer fraud involves dishonest practices used by businesses to entice customers to purchase products or services. Examples of consumer fraud can include false advertising, bait and switch schemes, or price gouging. Identity theft, on the other hand, involves stealing someone else’s personal information in order to gain access to their funds or other benefits. This could include using someone’s Social Security, credit card, or banking information to access their accounts. It can also include using someone else’s name and information to open new accounts in their name. Consumer fraud and identity theft both have significant penalties in Oklahoma. According to state law, those found guilty of consumer fraud can face up to five years in prison and/or a fine of up to $10,000. Those found guilty of identity theft can face up to 10 years in prison and/or a fine of up to $20,000. Both of these are serious crimes and can have serious consequences. It is important to be aware of these issues and take steps to protect yourself from both consumer fraud and identity theft.

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What is the difference between consumer fraud and identity theft?

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