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I've seen two different types of files attached, .pif and .mim. I can only assume that these either harvest your personal data, place a trojan, or contain a virus. It's a fairly good spam letter, the only way to discern that it's spam is by the miscellaneous characters added at the bottom of the letter to avoid spam filters.
Contrast it with a Nigerian fraud email I just got where the sender wrote that he was making a "conceited effort" to move money out of the country! The Indonesians and Nigerians are idiots. This email came from a pro and will rake in millions of dollars.
I hope the Paypal email (I got it six times!) is merely a hoax. Plenty of people will fall for it.
It asks virtually every personal financial question you could imagine: name, social security, credit card numbers, CVV2, addresses, phone numbers, date of birth, bank account info, EVERYTHING!