PrivacyCenter is a misleading application (reported by Symantec, 2009 - May 7.) that may give exaggerated reports of threats on the installed computer. The program may be manually installed or installed though Trojan.Zlob and it affects all Windows operating systems (95 to Vista).
If you have already installed this rogue program, the following information may help you to remove it from your PC. 1. Disable System Restore (Windows Me/XP), 2. Update the virus definitions, 3. Run a full system scan with antivirus program, 4. Delete any values added to the registry.
Detailed procedure for removing this rogue program is available from here.