Anti-Spy Safeguard:

Last night I was delivered a laptop with AntiSpy Safeguard running on it.  As convincing as it looks while its running, this infections should be named Spyware Anti-Safeguard.  What I noticed right off the bat is that at start-up in both Normal and Safe Mode the the user is prevented from doing anything while this tool pretends to be scanning your machine.

What it is actually doing is displaying false scan results as a tactic to scare you into thinking that your computer is infected with viruses. This fake program is advertised through websites and popups that pretend to be online malware applications that find infections on your computer.