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Fake CEO emails cost companies more than $5 billion: Report


A report by U.S.-based networking equipment firm Cisco Systems Inc. and system solutions firm Trivalent Group Inc. found that companies suffered losses of more than $5 billion in the last three years from fake e-mails, HRDive.com reported. The phishing attack makes e-mails look as though they are from the company's chief executive and asks employees to send money to designated recipients.

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