" Dear PayPal valued member, Due to concerns, for the safety and integrity of the PayPal community we have issued this warning message. "...

If you have received this email, please remember that it is very common for these email scams to be redistributed at a later date with only slightly different content or the same but with the fake page(s) hosted by a different provider. Also, once you have received one of these hoaxes, it is also common place to receive at least another one and usually a day or two after the first, although not necessarily from the same apparent sender.

The Spoof Email ...

Dear PayPal valued member,

Due to concerns, for the safety and integrity of the PayPal community we have issued this warning message.

It has come to our attention that your account information needs to be renew due to inactive members, spoof reports and frauds.
You must to renew your records and you will not run into any future problems with the online service.
However, failure to update your records will result in account deletation.
This notification expires on April 29, 2004.

Once you have updated your account records your PayPal will not be interrupted and will continue as normal.

Please follow the link below and renew your account information.

https://www.paypal.com/cgi-bin/webscr?cmd=login-run

PayPal Service Department

... and the version reported 10th May 2004 (together with its forged sign in page below) ...