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AntiSpySafeGuard is one of five rogue anti-spyware programs installed by Win32.FraudTool.MicrosoftSecurityEssentialsAlert. It may give exaggerated threat reports on the compromised computer, and then asks the user to purchase a registered version to remove those reported threats.
Known system changes:
HKEY_CURRENT_USER\Software\Microsoft\Windows NT\CurrentVersion\Winlogon "Shell" = "%UserProfile%\Application Data\antispy.exe"