Alert: If you receive an email from PayPal with the subject line: Update Your Information, do NOT click on the link – it is a phishing attack meant to steal your personal information.
(Quoting PayPal) What is Phishing?
Phishing is a form of fraud designed to steal your identity. It works by using false pretenses to get you to disclose sensitive personal information, such as credit and debit card numbers, account passwords, or Social Security numbers.
What do you do?
PayPal wants to know when these types of emails are being sent out. You can forward the offending email to: email@example.com and then delete the email. Do NOT click on any links within the email.
For more information and details on similar phishing attacks, read The Phishing Guide from the PayPal site.
Always be wary of ANY email that asks you to click a link and enter in personal information – even if it looks official, the odds are great that it is not legit. Be safe and ask your webmaster or go to the official website of the company the email is representing to find out if it is legit or not.