AVG, a family of anti-virus and internet security software for various platforms, has released the very first antivirus suite for Windows Phone 7. The suite includes an antivirus, anti-malware, and anti-phishing tools.
Weighing in at 5MB, this new suite offers several protection features such as Safe Web Surfing, and Safe Search. As WPCentral reports, this new scanner will scan over your music and images and is pretty fast at it! The suite will automatically download new definitions, just like its desktop counterpart. Read more at http://www.avgmobilation.com/ or download the app in the Marketplace.
From what Rafael Rivera points out, the antivirus app simply displays adverts, scans for EICAR test strings, and a Hebrew word. At the moment, there are no known Windows Phone viruses or malware out in the wild.