Its a spyware.There are 2 methods available to sort out this issue

Method 1

Download SpyHunter's Spyware Scanner.It automatically detects it & removes it

Download

Method 2

This is a manual method .It is bit difficult and if not used properly,u might face certain problem.

Step 1: Use Windows File Search Tool to Find regserv.exe Path

Go to Start > Search > All Files or Folders. 
In the "All or part of the the file name" section, type in " regserv.exe" file name(s). 
To get better results, select "Look in: Local Hard Drives" or "Look in: My Computer" and then click "Search" button. 
When Windows finishes your search, hover over the "In Folder" of " regserv.exe", highlight the file and copy/paste the path into the address bar. Save the file's path on your clipboard because you'll need the file path to delete regserv.exe in the following manual removal steps.

Step 2: Use Windows Task Manager to Remove regserv.exe Processes

To open the Windows Task Manager, use the combination of CTRL+ALT+DEL or CTRL+SHIFT+ESC. 
Click on the "Image Name" button to search for " regserv.exe" process by name. 
Select the " regserv.exe" process and click on the "End Process" button to kill it. 

Step 3: Detect and Delete Other regserv.exe Files 
To open the Windows Command Prompt, go to Start > Run > cmd and then press the "OK" button. 
Type in "dir /A name_of_the_folder" (for example, C:\Spyware-folder), which will display the folder's content even the hidden files.
To change directory, type in "cd name_of_the_folder". 
Once you have the file you're looking for type in del "name_of_the_file". 
To delete a file in folder, type in "del name_of_the_file". 
To delete the entire folder, type in "rmdir /S name_of_the_folder". 
Select the " regserv.exe" process and click on the "End Process" button to kill it.

source:http://www.spywareremove.com

There are a lot of PC users that know little about "Spyware", "Mal-ware", "hijackers", "Dialers" & many more. This will help you avoid pop-ups, spammers and all those baddies.

What is spy-ware?
Spy-ware is Internet jargon for Advertising Supported software (Ad-ware). It is a way for shareware authors to make money from a product, other than by selling it to the users. There are several large media companies that offer them to place banner ads in their products in exchange for a portion of the revenue from banner sales. This way, you don't have to pay for the software and the developers are still getting paid. If you find the banners annoying, there is usually an option to remove them, by paying the regular licensing fee.

Known spywares
There are thousands out there, new ones are added to the list everyday. But here are a few:
Alexa, Aureate/Radiate, BargainBuddy, ClickTillUWin, Conducent Timesink, Cydoor, Comet Cursor, eZula/KaZaa Toptext, Flashpoint/Flashtrack, Flyswat, Gator, GoHip, Hotbar, ISTbar, Lions Pride Enterprises/Blazing Logic/Trek Blue, Lop (C2Media), Mattel Brodcast, Morpheus, NewDotNet, Realplayer, Songspy, Xupiter, Web3000, WebHancer, Windows Messenger Service.

How to check if a program has spyware?
The is this Little site that keeps a database of programs that are known to install spyware.

Check Here: http://www.spywareguide.com/product_search.php

If you would like to block pop-ups (IE Pop-ups).
There tons of different types out there, but these are the 2 best, i think.

Try: Google Toolbar (http://toolbar.google.com/) This program is Free
Try: AdMuncher (http://www.admuncher.com) This program is Shareware

If you want to remove the "spyware" try these.
Try: Lavasoft Ad-Aware (http://www.lavasoftusa.com/) This program is Free
Info: Ad-aware is a multi spyware removal utility, that scans your memory, registry and hard drives for known spyware components and lets you remove them. The included backup-manager lets you reinstall a backup, offers and multi language support.

Try: Spybot-S&D (http://www.safer-networking.org/)
This program is Free
Info: Detects and removes spyware of different kinds (dialers, loggers, trojans, user tracks) from your computer. Blocks ActiveX downloads, tracking cookies and other threats. Over 10,000 detection files and entries. Provides detailed information about found problems.

Try: BPS Spyware and Adware Remover (http://www.bulletproofsoft.com/spyware-remover.html) This program is Shareware
Info: Adware, spyware, trackware and big brotherware removal utility with multi-language support. It scans your memory, registry and drives for known spyware and lets you remove them. Displays a list and lets you select the items you'd like to remove.

Try: Spy Sweeper (http://www.webroot.com/wb/products/spysweeper/index.php) This program is Shareware
Info: Detects and removes spyware of different kinds (dialers, loggers, trojans, user tracks) from your computer.
The best scanner out there, and updated all the time.

Try: HijackThis (http://www.spywareinfo.com/~merijn/downloads.html) This program is Freeware
Info: HijackThis is a tool, that lists all installed browser add-on, buttons, startup items and allows you to inspect them, and optionally remove selected items.


If you would like to prevent "spyware" being install.
Try: SpywareBlaster (http://www.wilderssecurity.net/spywareblaster.html) This program is Free
Info: SpywareBlaster doesn`t scan and clean for so-called spyware, but prevents it from being installed in the first place. It achieves this by disabling the CLSIDs of popular spyware ActiveX controls, and also prevents the installation of any of them via a webpage.

Try: SpywareGuard (http://www.wilderssecurity.net/spywareguard.html) This program is Free
Info: SpywareGuard provides a real-time protection solution against so-called spyware. It works similar to an anti-virus program, by scanning EXE and CAB files on access and alerting you if known spyware is detected.

Try: XP-AntiSpy (http://www.xp-antispy.org/) This program is Free
Info: XP-AntiSpy is a small utility to quickly disable some built-in update and authentication features in WindowsXP that may rise security or privacy concerns in some people.

Try: SpySites (http://camtech2000.net/Pages/SpySites_Prog...ml#SpySitesFree) This program is Free
Info: SpySites allows you to manage the Internet Explorer Restricted Zone settings and easily add entries from a database of 1500+ sites that are known to use advertising tracking methods or attempt to install third party software.

If you would like more Information about "spyware".
Check these sites.
http://www.spychecker.com/
http://www.spywareguide.com/
http://www.cexx.org/adware.htm
http://www.theinfomaniac.net/infomaniac/co...rsSpyware.shtml
http://www.thiefware.com/links/
http://simplythebest.net/info/spyware.html

Usefull tools...
Try: Stop Windows Messenger Spam 1.10 (http://www.jester2k.pwp.blueyonder.co.uk/j...r2ksoftware.htm) This program is Free
Info: "Stop Windows Messenger Spam" stops this Service from running and halts the spammers ability to send you these messages.

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All these softwares will help remove and prevent evil spammers and spywares attacking your PC. I myself recommend getting "spyblaster" "s&d spybot" "spy sweeper" & "admuncher" to protect your PC. A weekly scan is also recommended

Free Virus Scan
Scan for spyware, malware and keyloggers in addition to viruses, worms and trojans. New threats and annoyances are created faster than any individual can keep up with.
http://defender.veloz.com// - 15k


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Having trouble finding what you re looking for on: .? 2020Search will instantly provide you with the result you re looking for by drawing on some of the best search engines the Internet has to offer. Your result is a click away!
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Download the BrowserVillage Toolbar.
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Hope this is useful

Trojan.w32.looksky is another name for the Smitfraud/zlob trojan. SmitFraudFix removes trojan.w32.looksky, but you should also check your system for other malware, and use ATF cleaner to clean your temp files when finished.

Instructions to remove Trojan.w32.looksky using SmitFraudFix

SmitFraudFix only works with Windows XP or 2000

Download SmitfraudFix:Use this URL to download the latest version (the file contains both English and French versions):http://siri.geekstogo.com/SmitfraudFix.exe

Use:

* Search:
o Double-click SmitfraudFix.exe
o Select 1 and hit Enter to create a report of the infected files. The report can be found at the root of the system drive, usually at C:\rapport.txt

Clean:
* Reboot your computer in Safe Mode (before the Windows icon appears, tap the F8 key continually)
* Double-click SmitfraudFix.exe
* Select 2 and hit Enter to delete infect files.
* You will be prompted: Do you want to clean the registry ? answer Y (yes) and hit Enter in order to remove the Desktop background and clean registry keys associated with the infection.
* The tool will now check if wininet.dll is infected. You may be prompted to replace the infected file (if found): Replace infected file ? answer Y (yes) and hit Enter to restore a clean file.
* A reboot may be needed to finish the cleaning process. The report can be found at the root of the system drive, usually at C:\rapport.txt

* Optional:
o To restore Trusted and Restricted site zone, select 3 and hit Enter.
o You will be prompted: Restore Trusted Zone ? answer Y (yes) and hit Enter to delete trusted zone.


Note:

process.exe is detected by some antivirus programs (AntiVir, Dr.Web, Kaspersky) as a "RiskTool". It is not a virus, but a program used to stop system processes. Antivirus programs cannot distinguish between "good" and "malicious" use of such programs, therefore they may alert the user.
Here: http://www.beyondlogic.org/consulting/processutil/processutil.htm