The Grand Rapids Police Department in Michigan first notified the public about the scam Wednesday morning.
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The email states the user's account was deactivated because the company "could not validate the billing information."
The "company" then claims they're sorry to see the customer go and provides a link to restart their membership.
That link prompts the person to provide personal information, including credit card numbers.
Those who receive this email or one similar, should not click on any of the links and delete it.
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Those who want to check on the status of their account should go directly to Netflix's website and login as they normally would.
Last year the I-Team warned of a similar Amazon account phishing scheme, and there was another Netflix scam reported in November.
Experts at Chicago's TrustWave said sometimes the emails will have poor grammar or cheap-looking graphics, but others can look legitimate. They said you should never click on or copy any of the links these alarming emails.
"If you get an email from some company and there's a link, don't click the link to log in, just open up a separate browser. Don't do it within your email, go to the browser and go to that site directly," said Shawn Kanady of TrustWave.