Which of the following statements about identity theft is true?

The statement that identity theft can have widespread personal consequences is true because identity theft often extends beyond just financial implications. When someone's identity is stolen, it can lead to significant emotional distress, damage to personal relationships, and a multitude of logistical issues, such as replacing identification, resolving fraudulent accounts, and the time-consuming process of restoring one's identity. Furthermore, the repercussions can affect a victim's credit score, hindering their ability to secure loans, housing, and employment opportunities.

This broader impact underscores the seriousness of identity theft, indicating that it is not merely a financial issue but one that can permeate various aspects of an individual's life. This understanding is vital for effective risk management and for preparing individuals to take appropriate measures to safeguard against identity theft.

In contrast, other statements lack a comprehensive view of identity theft. For example, it's important to recognize that identity theft can affect various types of information beyond just financial data, it is not simply resolved by credit monitoring alone, and it encompasses more than just cybercrime, as it can happen through numerous means, including physical theft.