In the Ukraine, selling fake anti-virus software via scare tactics (scareware) is big business estimated to be reach over $300 million in 2010. 

These scareware programs, coupled with flashy websites, offer to run free anti-virus scans on users’ computers, then claim they found a number of viruses — viruses that can only be removed by purchasing their unique anti-virus software, costing anywhere between $30 and $70.  The problem is: the viruses don’t exist, and the software either does nothing, or worse, actually infects the computer with it’s own viruses and trojans. 

The owners of Innovative Marketing, a company purported as one of the leaders in this scam, are now facing criminal charges in a Chicago court.  Just two months prior to being charged with computer and wire fraud in Chicago, they were ordered to pay $163 million by a Maryland court for civil suit brought against them by the FTC.

Although it seems Innovative Marketing may have closed their doors last year, the Ukraine’s Interior Ministry says they could be operating from a different location.  Researchers point out that many of the company’s scareware scams are still running.

For more information, read the detailed article at Time.com:
http://www.time.com/time/business/article/0,8599,1998055,00.html.