Sam discovers that someone has used his bank card to charge hundreds of dollars at a sports store. Which risk of using financial institutions is he a victim of?

locked-in funds

missed opportunities***

identity theft

interest payments

No.

identity theft?

identity theft? - yes

Sam is a victim of identity theft. Identity theft occurs when someone obtains and uses another person's personal information, such as their bank card details, without their consent. In this case, someone has fraudulently used Sam's bank card to make unauthorized charges at a sports store.

To identify the specific risk Sam is facing, we can analyze the given options:

1. Locked-in funds: This risk refers to a situation where an individual's money is inaccessible or restricted for a particular period. It does not apply to Sam's situation since his funds are not locked in, but rather being used without his knowledge.

2. Missed opportunities: This risk is unrelated to Sam's situation and refers to potential financial gains or benefits that an individual may miss due to not taking advantage of available options or opportunities.

3. Identity theft: This risk involves someone impersonating another individual and using their personal information for fraudulent purposes, such as making unauthorized transactions. This accurately describes what Sam is experiencing, as someone has used his bank card without his consent.

4. Interest payments: This risk relates to the additional money one must pay on borrowed funds, typically in the form of interest. It is unrelated to Sam's situation as it does not involve borrowing money or paying interest.

Based on the above analysis, the correct answer is "identity theft." Sam is a victim of identity theft because someone has used his bank card details to make unauthorized charges at a sports store.