This is a copy of an actual email I received claiming to be from paypal

Thank You for Your Attention!

Because PayPal is maintaining physical, electronic and procedural safeguards that comply with federal guidelines to guard your personal information against unauthorized access, we restricted some of our services for our clients, in order to be able to complete this process.

At this time we need you to renew your online profile and update our existing database, in order to be able to use all the PayPal services with no restriction. As soon as our database will be updated we will make a few anouncements to our customers regarding this notification, so please renew your online profile with no delay.

This process is compulsory for all our customers. Please continue to the link below:

www.paypal.com/webscr?cmd=update

We will verify the information with your financial institution.

PayPal is dedicated to providing you with exceptional service and to ensuring your trust. If you have any questions regarding our services, please call our customer service.


Sincerely,
PayPal Account Review Department

The email gave a link for me to report fake emails it would have taken me to a fake verification site and stolen my paypal details

Heres paypals reply

Thanks for taking an active role by reporting suspicious-looking
emails.
The email you forwarded to us is a phishing email, and our security
team
is working to disable it.

-------------------------
What is a phishing email?
-------------------------
Phishing emails attempt to steal your identity and will often ask you
to
reveal your password or other personal or financial information. PayPal

will never ask for your password over the phone or in an email and will

always address you by your first and last name.

Take our Fight Phishing Challenge at
https://www.paypal.com/fightphishing to learn 5 things you should know
about phishing. You'll also see what we're doing to help fight fraud
every day.

-------------------------
You've made a difference.
-------------------------
Every email counts. By forwarding a suspicious-looking email to
spoof@paypal.com, you've helped keep yourself and others safe from
identity theft.

Thanks,

The PayPal Team
___________________________

Just a word of warning to anybody using paypal

never click on any link if you suspect it to be bogus or you just aren't sure forward it to

spoof@paypal.com

Rab :)

i used to have a paypal account although i never got round to getting it set up properly, didnt have my bank account linked up to it just yet, but few weeks ago i got an email saying there has been an unauthorised change of my password and secret question....and if i didnt authorise it, to call them asap.... its sorta put me off using the whole thing altogether now...

hate winkers stealin our hard earned cash:mad:

I have a paypal account but have not received any E-mails like that. We also report if i get it.

cheers