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What is scareware?

What is scareware? Here are some definitions.

Noun
  1. (computing) Software that attempts to scare the user into compliance, as by displaying false warnings of virus infection.
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The new entries include scareware, buttloads and cyberbullying.
These pests include viruses as well worms, Trojan horses, spyware, scareware, ransomware, phishing and more, all colorfully named but seriously dangerous.
This past weekend, even the New York Times was duped into running a scareware ad on their site.
Some victims reported being targets of various scareware or ransomware cyber intrusions immediately preceding a BEC scam request.
Symantec also believes some people distributing the scareware could be earning more than a million dollars each year.
Others words include Twittersphere, Tweetup, Hacktivist, Clickjacking, Twitpic, Scareware and Dot-bomb.

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