I just got this email directing me to this fake Paypal site. It was really well phrased in the Paypal style, and the whole thing is very plausible (as well as being completely bogus). Of course, if you do try to log on to the fake website, they have all your details, and they can proceed to steal money from your account.

The email went like this:

PayPal is committed to maintaining a safe environment for its community of
buyers and sellers. To protect the security of your account, we employ the
most advanced security systems in the world and regularly screen our system
for unusual activity.

Recently, our Account Review Team identified some unusual activity in your
account. Per PayPal’s user agreement, we have limited access to your
account until this issue has been resolved. This is a fraud prevention
measure meant to ensure that your account is not compromised.

In order to secure your account and quickly restore full access, we require
some specific information from you. Please log in to your account for more
information:

https://www.paypal.com/us/wf/f=ra_default

We encourage you to remove the restriction on your account as soon as
possible. Maintaining a restricted account for an extended period of time
may result in additional limitations or eventual account closure.

Thank you for your prompt attention to this matter. Please understand that
this is a security measure meant to help protect you and your account. We
apologize for any inconvenience.

Sincerely,
The PayPal Team