The scam sends unsuspecting users an email asking them to update their account or membership details.
The email includes a link which if clicked redirects the user to a fake login page set up to look identical to the Netflix site.
The fake site even includes the yellow “secure server” lock, so users have no idea they are using a counterfeit website.
Users are then prompted to submit all their account details, including billing information and credit card details.
Users are also asked to submit their date of birth and address.
Once all details have been inputted, the user is then redirect to the genuine Netflix website.
However, by this time it is already too late and those behind the scam already have access all the information needed to transfer cash or make payments from their bank account or credit card.
The scam was discovered by online security firm FireEye, who note that the scam was able to bypass typical phishing filters.
As Netflix soars in popularity, scams surrounding the online streaming service are becoming more common.
Last year, a similar scam targeted users in the UK who were sent phony emails for purchases they hadn’t made in an attempt to get them to hand over credit card details.
Another scam prompted users to update their credit card details. When they tried to update, they were told their account had been suspended as a security precaution and were advised to download “Netflix Support Software”.
However, security researchers discovered that once the software was installed, hackers could remotely access the victim’s computer.
Netflix offers advice to users on how to protect themselves when using the online streaming service.