On September 24, 2020, Miguel Caracamo was going through his mail. For some reason, Miguel had not yet received his bank statement, which he usually received at the beginning of each month. Although he was concerned, he took no action and decided not to worry about it. After all, was it his fault that the bank was a little behind in sending out statements? Two weeks later, Miguel got a mysterious call from a creditor claiming that he needed to pay an overdue balance on his Visa credit card. Miguel, frustrated to receive such a call in the middle of dinner with his family, told the person that he must be mistaken and that he had paid his bill already this month. Before the caller was able to ask any more questions, Miguel hung up the phone. On October 15, 2020, Miguel tried to use his credit card for a purchase. Unfortunately, the card did not work, and the charge was declined. Upset and embarrassed, Miguel called his bank. He was told that not only was the card maxed out to the credit limit but that he was also maxed out on the increased credit limit on a new credit card that he recently applied for. Miguel stated that he did not apply for an increased credit limit for his Visa card and did not apply for a new credit card. It took several days, but after an investigation by the bank, Miguel discovered that he had been the victim of identity theft. Unfortunately, besides his existing card that was fraudulently used, his checking account was drained of several thousand dollars, two unauthorized credit cards had been issued in his name, and a new car loan was issued in his name. Both his bank checking account and the new credit cards and related statements were sent to a PO box at a post office. Miguel does not use a PO box and was unaware until now that someone opened a box in his name that was used for this fraud. If Miguel had earlier noticed the red flags, how could he have minimized his losses