Which act established identity theft as a federal crime?

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Study for the Personal Financial Literacy Module 4 DBA Test. Discover valuable flashcards and multiple choice questions, each crafted with hints and insights. Be ready to ace your exam and build financial confidence.

The Identity Theft and Assumption Deterrence Act of 1998 established identity theft as a federal crime. This piece of legislation was significant because it provided a legal framework for prosecuting individuals who unlawfully assume another person's identity with the intent to commit various forms of fraud. By categorizing identity theft as a federal offense, the act also enabled law enforcement agencies to take stronger measures against these crimes, facilitating better protection for consumers at the national level.

The other options, while related to consumer protection and identity, do not specifically establish identity theft as a crime. The Fair Credit Reporting Act primarily focuses on the privacy and accuracy of credit reporting, the Consumer Protection Act addresses a broader spectrum of consumer rights, and the Federal Identity Theft Prevention Act, while related to identity theft, came after the 1998 Act and emphasized preventive measures rather than establishing identity theft as a federal crime.

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