You may received another one of these emails. Usually they will warn about a problem with your account and asked that it be reverified when all it does is to trick you into keying in your username and password and then using that info to make illegal transactions.
This time however you may be informed of a 'purchase' that you have recently 'made'.
Of course, knowing that you have not made any such purchase, it alarms you and the first instinct is to click on that link to cancel the transaction.
When you click that link it will bring you to a phishing site that looks familiar to you. It looks the same as the real PayPal site that you visited all these while. You login and by then your account have been compromised.
There are some things you can do to protect yourself. Reading my earlier
post will arm you will the knowledge required to protect yourself.
If all that is too technical, then the easiest thing you can do is
1. DO NOT CLICK on such links.
2. Go to WWW.PAYPAL.COM directly and verify if you have indeed made such purchases.
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