Phishing emails are messages made to look asthough they were sent from a bank, credit cardcompany or other trusted organisation.
Fraudsters will typically try to trick you into clicking through to a fake website. You may be told that if you don't follow the link and update your password, your account will be suspended.
Once on the fake site, you could be asked to enter sensitive information such as your log-in details, password or account number. Like the phishing email, the site will look genuine.