Phishing is an e-mail based form of fraud used to scam people out of their personal information. This occurs when an e-mail is sent to you that mimics the official correspondence of a legitimate company.  Not only will the e-mail seem valid, but, in most cases, it will provide a link to an equally convincing website. The tone of the correspondence will typically be urgent, demanding even. It may allude to possible consequences of non compliance. NEVER respond directly to such an e-mail. A business in good standing generally will not take such a heavy handed stance towards its customers. Always check directly with the company through usual channels before taking any action.   

As a past recipient of this kind of fraudulent correspondence, I can tell you some of the warning signs that you have encountered a phishing e-mail. Grammatical errors, typos, random characters; any of these is a good indication that someone is attempting to scam you. A trustworthy business cares about how their company is represented. They do not make a practice of sending out correspondence that has not been proofread. Any e-mail that asks for personal identifying information or requests that you enter your password or PIN should be looked at with suspicion. If an e-mail, from a seemingly familiar company, lands in your spam folder, chances are that's where it belongs. This is why it's important to be distinguishing about which e-mails you add to your trusted contact list. Again, if the tone of the e-mail is unprofessional upwards to bordering on harassment, you should contact the company directly before taking any further action. I strongly advise against clicking on any links contained within the e-mail. Do not reply to the e-mail. And for God's sake, do not download any attachments. That's a surefire way to end up with malicious programs on your computer.

If you believe you've encountered phishing e-mails, you should isolate them in their own folder. Contact the company you believe has been falsely represented. Describe the e-mails to them so they can take the necessary steps to ensure that their customers are not taken advantage of. Phishing e-mails are as much a problem for valid companies as they are for us, the consumers. Once you've informed the company of what has transpired, and they have confirmed your suspicions, feel free to delete the offending e-mails and also block the sender from further correspondence.  Vigilance on the internet and in screening your e-mail is key in the electronic age. Being aware of possible threats is half the battle.