diff --git a/ChangeLog.rst b/ChangeLog.rst
index 7aaefd5b24..1e89ec4eb6 100644
--- a/ChangeLog.rst
+++ b/ChangeLog.rst
@@ -1,3 +1,22 @@
+0.48.0 (unreleased)
+*******************
+
+Note worthy changes
+-------------------
+
+- Introduced a new setting `ACCOUNT_PREVENT_ENUMERATION` that controls whether
+  or not information is revealed about whether or not a user account exists.
+  **Warning**: this is a work in progress, password reset is covered, yet,
+  signing up is not.
+
+
+Backwards incompatible changes
+------------------------------
+
+- The newly introduced `ACCOUNT_PREVENT_ENUMERATION` defaults to `True` impacting
+  the current behavior of the password reset flow.
+
+
 0.47.0 (2021-12-09)
 *******************
 
diff --git a/allauth/account/app_settings.py b/allauth/account/app_settings.py
index 65aa1f636b..80c75099a5 100644
--- a/allauth/account/app_settings.py
+++ b/allauth/account/app_settings.py
@@ -46,6 +46,10 @@ def _setting(self, name, dflt):
         )
         return getter(self.prefix + name, dflt)
 
+    @property
+    def PREVENT_ENUMERATION(self):
+        return self._setting("PREVENT_ENUMERATION", True)
+
     @property
     def DEFAULT_HTTP_PROTOCOL(self):
         return self._setting("DEFAULT_HTTP_PROTOCOL", "http").lower()
diff --git a/allauth/account/forms.py b/allauth/account/forms.py
index f175da4fd0..4a192a0a19 100644
--- a/allauth/account/forms.py
+++ b/allauth/account/forms.py
@@ -524,18 +524,34 @@ def clean_email(self):
         email = self.cleaned_data["email"]
         email = get_adapter().clean_email(email)
         self.users = filter_users_by_email(email, is_active=True)
-        if not self.users:
+        if not self.users and not app_settings.PREVENT_ENUMERATION:
             raise forms.ValidationError(
                 _("The e-mail address is not assigned to any user account")
             )
         return self.cleaned_data["email"]
 
     def save(self, request, **kwargs):
-        current_site = get_current_site(request)
         email = self.cleaned_data["email"]
+        if not self.users:
+            self._send_unknown_account_mail(request, email)
+        else:
+            self._send_password_reset_mail(request, email, self.users, **kwargs)
+        return email
+
+    def _send_unknown_account_mail(self, request, email):
+        signup_url = build_absolute_uri(request, reverse("account_signup"))
+        context = {
+            "current_site": get_current_site(request),
+            "email": email,
+            "request": request,
+            "signup_url": signup_url,
+        }
+        get_adapter(request).send_mail("account/email/unknown_account", email, context)
+
+    def _send_password_reset_mail(self, request, email, users, **kwargs):
         token_generator = kwargs.get("token_generator", default_token_generator)
 
-        for user in self.users:
+        for user in users:
 
             temp_key = token_generator.make_token(user)
 
@@ -551,7 +567,7 @@ def save(self, request, **kwargs):
             url = build_absolute_uri(request, path)
 
             context = {
-                "current_site": current_site,
+                "current_site": get_current_site(request),
                 "user": user,
                 "password_reset_url": url,
                 "request": request,
@@ -562,7 +578,6 @@ def save(self, request, **kwargs):
             get_adapter(request).send_mail(
                 "account/email/password_reset_key", email, context
             )
-        return self.cleaned_data["email"]
 
 
 class ResetPasswordKeyForm(PasswordVerificationMixin, forms.Form):
diff --git a/allauth/templates/account/email/unknown_account_message.txt b/allauth/templates/account/email/unknown_account_message.txt
new file mode 100644
index 0000000000..e4e89d010e
--- /dev/null
+++ b/allauth/templates/account/email/unknown_account_message.txt
@@ -0,0 +1,12 @@
+{% extends "account/email/base_message.txt" %}
+{% load i18n %}
+
+{% block content %}{% autoescape off %}{% blocktrans %}You are receiving this e-mail because you or someone else has requested a
+password for your user account. However, we do not have any record of a user
+with email {{ email }} in our database.
+
+This mail can be safely ignored if you did not request a password reset.
+
+If it was you, you can sign up for an account using the link below.{% endblocktrans %}
+
+{{ signup_url }}{% endautoescape %}{% endblock %}
diff --git a/allauth/templates/account/email/unknown_account_subject.txt b/allauth/templates/account/email/unknown_account_subject.txt
new file mode 100644
index 0000000000..6840c40b75
--- /dev/null
+++ b/allauth/templates/account/email/unknown_account_subject.txt
@@ -0,0 +1,4 @@
+{% load i18n %}
+{% autoescape off %}
+{% blocktrans %}Password Reset E-mail{% endblocktrans %}
+{% endautoescape %}
diff --git a/docs/configuration.rst b/docs/configuration.rst
index cd07c219b7..ff25e6e2d2 100644
--- a/docs/configuration.rst
+++ b/docs/configuration.rst
@@ -166,6 +166,16 @@ ACCOUNT_PRESERVE_USERNAME_CASING (=True)
   when filter on username. For now, the default is set to ``True`` to maintain
   backwards compatibility.
 
+ACCOUNT_PREVENT_ENUMERATION (=True)
+  Controls whether or not information is revealed about whether or not a user
+  account exists. For example, by entering random email addresses in the
+  password reset form you can test whether or not those email addresses are
+  associated with an account. Enabling this setting prevents that, and an email
+  is always sent, regardless of whether or not the account exists. Note that
+  there is a slight usability tax to pay because there is no immediate feedback.
+  **Warning**: this is a work in progress, password reset is covered, yet,
+   signing up is not.
+
 ACCOUNT_SESSION_REMEMBER (=None)
   Controls the life time of the session. Set to ``None`` to ask the user
   ("Remember me?"), ``False`` to not remember, and ``True`` to always