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I'll tell you some of what's wrong with it at the end some wrong's are highlighted in red.
Subject: PayPal Email ID PP321
Sender: "service@email.paypal.com"
Dear PayPal User,
We recently noticed one or more attempts to log in to
your PayPal
account from a foreign IP address.
If you recently accessed your account while traveling, the unusual log in attempts
may have been initiated by you. However, if you did not initiate the log
ins, please visit PayPal as soon as possible to update your account:
https://www.paypal.com/us/cgi-bin/webscr?cmd=_login-run
(the text on the link isn't where it was going - see below)
Changing your password is a security measure that will ensure
that you
are the only person with access to the account.
Thanks for your patience as we work together to protect your
account.
Sincerely,
PayPal
----------------------------------------------------------------
PROTECT YOUR PASSWORD
NEVER give your password to anyone, including PayPal employees.
Protect yourself against fraudulent websites by opening a new
web browser (e.g. Internet Explorer or Netscape) and typing in
the PayPal URL every time you log in to your account.
Please do not reply to this email. This mailbox is not monitored
and you will not receive a response. For assistance, log in to your
PayPal account and click the Help link located in the top right corner
of any PayPal page.
PayPal Email ID PP321
Well first of all, it came to an email address that doesn't exist and that has no paypal account attached to it. Many of these folks search domains and send out mail to good guess addresses this one was to sales@mydomain.com
Secondly when I put my mouse over the official looking link, the status bar showed me where I'd really be going...
http://metrointer.metropolitanadeseguros.com.ni/
.us/index.php?MfcISAPICommand=SignInFPP
Not looking much like a paypal site to me
Finally even if the link looked kind of like it might be a paypal site, like http://www.service-paypal-investigation.com, paypal's sites are secure, always start with https:
Visit Paypal's fraudulent email page at https://www.paypal.com/cgi-bin/webscr?cmd=xpt/general/SecuritySpoof-outside for information about how to spot a spoof or phishing email and what to do with it (forward it to them - the email address is spoof@paypal.com)