What is identity theft?

Identity theft refers to the unauthorized use of someone else's personal information, such as their name, social security number, credit card details, or other identifying data, to commit fraud or engage in other illegal activities. This can include opening credit accounts in the victim's name, purchasing goods and services, or even committing crimes while disguised as the victim.

The essence of identity theft lies in the manipulation of an individual's identity for financial gain or to deceive others, which is why option B is the only accurate description provided. This definition highlights the serious implications of identity theft on personal financial health and the legal repercussions for both the victim and the perpetrator. Other choices discuss different forms of theft (A), corporate tactics (C), or financial missteps (D), which do not capture the specific nature of identity theft as it pertains to personal data and fraudulent activities.