"Credit card frauds are committed in the following ways: • An act of criminal deception (mislead with intent) by use of unauthorized account and/or personal information • Illegal or unauthorized use of account for personal gain • Misrepresentation of account information to obtain goods and/or services. Contrary to popular belief, merchants are far more at risk from credit card fraud than the cardholders. While consumers may face trouble trying to get a fraudulent charge reversed, merchants lose the cost of the product sold, pay chargeback fees, and fear from the risk of having their merchant account closed."