Features :
• Resident shield with on-access scanning
• Unique automatic threat-removal anti-spyware engine
• Self-protection at kernel layer guarantees gapless monitoring
• Strong signatures for higher resistance to malware (malicious software) variations
• Cutting-edge anti-spyware technology — Using the latest state-of-the-art detection technology, AVG detects spyware, adware, DLL-trojans, keyloggers, and much more. Malware hidden in data streams, archives, or the Windows registry is also detected. AVG also scans the memory to detect active threats.
• Full on-access protection — The powerful AVG Resident Shield provides maximum protection by scanning every file opened, executed, or saved. It also prevents the opening or executing of malware. Self-protection at the kernel layer guarantees gapless monitoring by preventing malware from disabling your anti-spyware protection.
• Automatic threat handling — AVG can automatically clean infected files and remove other threats such as trojans, dialers, hijackers, spyware, and keyloggers. Suspicious files can be safely moved into quarantine.
• High-level scanning capabilities — AVG detects sleeping and non-dangerous malware (i.e., malware that has been downloaded but not yet activated). It uses strong signatures to defeat attempts to avoid detection via malware variation, and can securely detect and delete DLL-trojans. With generic crypter and binder technology as well as heuristic analysis, AVG offers your computer the most comprehensive detection of malware.
• User friendly and intelligent operation — In addition to an intuitive user interface, AVG offers easily configured intelligent updating and simple scheduling of tasks. Configuring program exceptions is straightforward and allows you to exclude specified programs from AVG’s thorough scanning.
• Complete set of analysis tools — AVG Anti-Spyware allows you to check and control your computer with a wide array of analysis tools such as viewers for processes, connections, browser plugins, startup entries etc. It also features a shredder for secure file deletion and a tool to harden your Windows installation.

Limitations: Resident shield not available in the freeware version.

Homepage - http://www.grisoft.com/doc/1