The link in the email (the "Click here to proceed" bit) was to "http://keupdate.cwsurf.de/" which appears to be in Germany. Once I clicked the link the very helpful people from Google intervened with the following warning:
But I was reckless and pressed the "Ignore Warning" button. This is what came up next:
"Once your card is supposed be protected confirmed the threats is online fraud."All they're asking for is your personal details (you'll notice that this is focussed on our American friends, asking for their Social Security number) and everything they need to go on a spending spree at your expense. They even ask for your credit limit and current balance so they know how much they can steal from you.
Remember that they wouldn't be doing this if there weren't people out there gullible enough to fall for it. They do it because it works.