Most of the phishing e-mails are trying to get the recipient to give the sender their personal information. There are a couple of ways they do this (I am not now, nor have I ever been, an IT person, so I am explaining this the way that I understand it):
*There will be a link or even links in the scam e-mail that IF you click on them, you will be taken to a real-looking but *fake* website. You go to the FAKE website and input all your information they ask for (account numbers, passwords, mother's maiden name and so on) and they will then have what they need to commit all sorts of crimes - drain your accounts, commit identity fraud, set up NEW accounts and ruin *your* credit with fraudulent spending, etc.
*They will have images in their e-mail. When you click on the e-mail, the images can load onto your computer and the sender can identify your e-mail as valid (somehow...this one I don't quite understand, my Inbox has a security feature where I have to ennable "load images"). Even if you don't respond, the sender will have the info that the e-mail address is good and they can then sell your e-mail address to others.
*Most of the e-mails have an attachment. *Usually* if you don't open the attachment you're ok. There are a *few* of these criminal e-mails that try to download viruses/trojans/malware/spyware/allsortsofnastystuffthatyoudon'teverwantonyourcomputer if you just open them, but my computer has a feature that ALWAYS asks "Do you want to download this?" before any such action. I click on "No" and my computer is safe from this kind of attack.
The best line of defense is the computer-user. For instance, I just got an e-mail from a friend that has a 3.7MB .wmv attachment. I'm going to e-mail him to make sure that he sent it to me before I open it.
agnes!