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In this hoax, you will receive an email that looks very similar to the real emails from a well known company, they could be governmental, banks.. In this email they will ask you to login into your account, give personal information, pay a certain amount of money etc. Once you click the link, it will redirect you to their page, however that page is a fake one and not the official one from the company. This way once you login to your account, provide personal details, your account number etc, they will be able to steal your data and or money.
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