A fake PayPal email, claiming that you have limited access to your PayPal account due to unauthorized access attempts, is circulating rapidly. To gain full access, the email encourages you to click on a link and go through the login process to confirm your identity. The email appears to be targeting PayPal customers in the UK, but people from other countries may fall victim to this scam as well. The message is well-written and contains the PayPal logo, making it appear legitimate. However, some of the red flags include spoofed sender's email address, generic greeting, and recipients are asked to provide information by clicking on an embedded link.
Legitimate online services, such as PayPal, will address you by name and not with a generic greeting such as 'Dear Customer' or 'Dear Valued Member.' If you receive an email claiming to be from PayPal with these characteristics, don't click on the embedded link. Clicking on the link will direct you to a spoofed PayPal login page that will record your login credentials. After your credentials are recorded, you will be directed to another phishing page where you're asked to enter your contact and credit card information. This data is then forwarded to the cybercriminals who will have the information needed for identity theft, credit card fraud, and PayPal account hijacking attacks.
To be safe, always login to your PayPal account by entering PayPal's address into your browser's address bar.