SmsSpy.A is a stealthy application that places no visible icon on the application menu; its presence is only visible from the 'Manage applications' options under Settings.
All of its activities are carried out inconspicuously in the background. These activities include tracking the device's GPS location, accessing and reading SMS messages received on the device, and sending out SMS messages.
SmsSpy.A as seen from 'Manage applications' and the permissions it requested.
While apps with such behavior may be legitimately used by the device's authorized user, they are classified by security programs as riskware because in the hands of unauthorized users, they can also be used to cause damage to the user's data or the device.
If you are confident that you are aware of the risks involved in using the app and consent to its use, you may choose to keep the app installed on your device.