Nowadays the Internet is loaded with several fake antivirus programs and rogue applications which are available for download. If installed, these programs pose a security risk to the users. Symantec today has reported a new potentially unwanted application called MalwareBot that falsely identifies legitimate network applications as threats on the computer. 
It then prompted the users to pay for a full license of the application in order to remove the threats. It affects all Windows versions (Windows 2000 to Windows Vista). However, if you have a good antivirus program on your computer, it will never allow you to install this program.

If you have already installed this program please visit this Symantec link for specific details and removing methods.
I was a victim of such a program previously. I always hate these 'boltware' and many thanks for such a useful info
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