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Law enforcement and cyber security experts have been warning that business email compromise was on the rise, but the extent of losses has not previously been disclosed.
Cyber security experts say they expect losses to grow as the high profits will attract more criminals.
"It's a low-risk, high-reward crime. It's going to continue to get worse before it gets better," said Tom Brown, a former federal prosecutor in Manhattan.
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http://www.cnbc.com/2016/04/08/cyber-fraudsters-reap-23-billion-through-email-wire-transfer-scams.html?__source=xfinity|mod&par=xfinity