What is phishing, which is very common in social networking sites like facebook?

Phishing is, simply put, trying to steal someone's private info (passwords, log-in details, credit card details) by having them visit a web page that looks just like a site they know and trust.

For instance, you might get an e-mail supposedly from your bank, informing you that something is wrong with your account; you click the link in the e-mail and are taken to a page that looks just like the bank's site, so you try to log in, but your info is sent to the people who set up the fake site, and they may then use it to access your bank account and do whatever they want with it.What is phishing, which is very common in social networking sites like facebook?
Phishing is actually more common in e-mail