You should report PayPal as soon as you become suspect of a fraud of any sort i.e. phishing scam etc. The fraud person can use a number of methods to collect credit card and banking details of a person using PayPal account details and then use them to take the money. In case a person is able to access your PayPal account details, they can make payments for purchase of many things on your behalf, and thus deprive you of a substantial amount. In case you timely report the fraud to PayPal, and get your account blocked, you may be able to protect yourself.
Report Suspected Emails
If you have been receiving suspected emails from the account of PayPal, report it immediately to the company either through email, phone or through post office. It is better if you talk to a customer adviser and explain the nature of messages that you have been receiving in your email with the title and address of PayPal. This is the most common modus operandi of frauds that they use email contact details of the person on behalf of PayPal to collect details of credit cards and others.
You can contact PayPal through email, phone or by post as soon as you become suspicious of a fraud. It is better you talk to customers services adviser of the company explaining the entire situation. It is possible that PayPal has been receiving complaints about similar frauds from other customers and they can help you to know how you can better protect your account.
Change Accounts Details
If you think that your PayPal account details have been compromised, change them immediately, including the secret questions or any other security related details. Also, you may get your account blocked for a while and then activate it again. Do not use account during the time your account has been compromised. Also, share the details or history of your transactions through PayPal with the customer adviser.
Do not reply to any emails, which you receive from PayPal, or in fact on behalf of PayPal, and especially do not share any contact details unless you report it to PayPal first. Also, if your receive the email in your inbox, report it to the spam and do not try to open it. If you open the email it is likely that your accounts details are compromised immediately.