I received this message in my junk email. So, obviously something isn't right about it to start with. The following is the break down of the major parts of the message I received.

Here is the subject of this phishing email:

This email was supposedly sent by:

Here is the body of the email:

[More:]

Dear PayPal Member,

As part of our security measures, we regularly screen activity in the PayPal system. During a recent screening, we noticed an issue regarding your account.

For your protection, we have limited access to your account until additional security measures can be completed. We apologize for any inconvenience this may cause.

This might be due to either of the following reasons:

1. A recent change in your personal information (i.e. change of
address,e-mail address).
2. An inability to accurately verify your selected option of payment
due to an internal error within our processors.

Please update and verify your information by checking the link below:
(if you can't open it just copy the link in your internet browser)

h__p://paypal.database-confirmation.com/index.htm

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

Sincerely,
PayPal Account Review Department

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Copyright © 1999-2009 PayPal. All rights reserved.

PayPal (Europe) S.à r.l. & Cie, S.C.A.
Société en Commandite par Actions Registered Office: 5th Floor 22-24 Boulevard Royal L-2449, Luxembourg RCS Luxembourg B 118 349

If you receive an email like this, don't respond to it, or follow any links. JUST DELETE IT
Dave