What the heck is phishing?

I got an email from my hosting company telling me that they had removed my site because somebody had phished it. Not 100% sure what that is but I think that it's some cheapskate who hijacks your site and tags theirs on to it to make use of the bandwidth you have paid for - when webspace is so cheap nowadays too. Or it could be some weirdo hiding their illegal site in your pages.

Anyway I read the email a week after receiving it and found that my site was fine because several days earlier I had taken that site down and parked another of my sites on that domain.

All I can say is phish off to the cheats.