WARNING: Paypal phishing/scam

[Nuvo]

Just recieved an email from some leech masquerading as Paypal requesting that I update my account details otherwise access to my account will be restricted.

The senders email address is :service@paypal.co.uk

And the email begins:

Please provide further information

Dear <Your Name Here>,

We need to confirm some of your account information or collect further
information. Please complete this by 04/09/2011. If you don't do so in
time, PayPal is required by EU regulations to limit access to your account.

What should I do?
-----------------------------------------------------------------------

The next time you log in to your PayPal account you’ll be guided through
a process to collect the necessary information.

I'm sure most of you would see through something like this but just wanted to alert you all of this as a precaution.

EDIT: Hmm it is genuine after all. I logged in using the usual paypal.com. URL rather than clicking on any links in the body of the email and was greeted with:

Need information to comply with EU regulations

EU regulationsEU law requires financial services firms like PayPal to validate the identity of all customers to provide a safer platform for its users and to help prevent the illegal use of its services. require that we collect and confirm your account
informationTo comply with EU regulations, you'll be asked to identify your account type. You may also be required to provide other information, or upload or fax documents to PayPal..
You've got until 21 Jul 2011 to provide the necessary information. Please complete this promptly.If you don't do so in time, PayPal is required by law to limit access to your accountIf access to your account is limited, you won't be able to send or withdraw money until you provide the information required by EU regulations. If this happens, log in to your PayPal account and click Resolution Centre at the top of the page. You'll be able to view the steps needed to lift the limits..

I've got to say that I'm surprised at this as the email didn't look authentic to me.
Oh well, best to err on the side of caution if nothing else.

EDIT #2: The information on this page says the email contains links to a spoof website.

So it would appear that the scammers are trying to capitalise on Paypals requests for updated information.

[byd1380]

I actually got one of those last week. They suspended my account and I couldn't access it or reset the password on line, I had to phone them and they sorted it straight away.

But it did look like a spoof email.

Ivan

[Sonic]

I have received several emails like this that were definitely scams. It's obviously a good idea for the scammers to to send phishing emails like this for something that is really required by paypal afterall!

Stay alert

[Rikki Kitto]

Nearly fell for it, lucky my Avast software picked it up and stopped me being stupid

[Colesy]

I'll circulate this around my olds and the inlaws. The potential father in law spotted a scam email supposedly from HSBC and decided to click the link in the email to go to the HSBC website so that he could report it! Took a while for him to get rid of that viruis...