Phishing attacks are carried out by an attacker who sends a genuine looking communication, such as an email, to their victim claiming to be from a company with which they have dealings, e.g., Betfair. These spoofed emails will ask you to “verify your details” or “re-submit” personal account information. There's often a link provided that takes you to a fake website that looks very similar to the legitimate one. This website may ask you to input login, password and other details such as your credit card number to verify your account. Unfortunately, the recipient of your information is a fraudster who will use your information for financial gain.
The best way to protect against Phishing attacks is learning how to identify suspicious emails and websites.

Check out the next two sections for more information Identifying phishing emails and Identifying phishing websites.