Once installed, this fake program will display fake security alerts and state that your computer is infected with spyware, adware and other types of malware. Then it will prompt you to pay for a full version of the program to remove the infections and to make your computer more secure. Of course, that's not true, because AV Security Suite is an infection itself and obviously won't protect your computer from malware. Most importantly, don't purchase this bogus program. If you have already purchased it, then you should contact your credit card company and dispute the charges.
Basically the practice boils down to distortion. The virus is making you pay for something it created. They also use a lot of sneaky methods of downloading their software onto your computer, including sending fake emails from the administrator asking for a password reset. When the link is clicked, a Java script starts, downloading the program.
The program infected my computer and started to claim every legitimate program that runs is a potential virus, and the only site the "program" allowed me to navigate to was their company web page. This was one of the biggest pain in the butt that I have experienced, and if I ever find the guy who is profiting off this I would likely kick his head into a brick wall. Bloodier the better.
Some more info about this virus here.
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