“Hoodwinks have gone high tech, using the Internet to deceive consumers in a variety of clever ways. One such way is through credit card fraud. As the use and availability of credit cards on-line increases, so does the occurrence of credit card fraud. The amount and frequency of fraud is increasing at a high rate, and many consumers fall victim to it. Credit card fraud has the ability to harm consumers and credit card companies. However, the ones suffering the most are not individuals in such a situation. Although individuals that never notice the extra charges end up paying for products they never bought, they are only responsible to pay for the first $50 if they notice the fraudulent charges and report them. Merchants tend to suffer the most, as they lose huge amounts of money in goods that were sold, yet never paid for. This has contributed to the closing of many companies, especially those on-line. Credit card companies report huge losses due to this type of fraud.”