What is ieupdates.exe? Should I remove it?

ieupdates.exe is an executable file which primary purpose is to start a parasite or launch some of its components. Once executed, the ieupdates.exe file runs a process that is responsible for the parasite’s payload. ieupdates.exe is a significant part of a dangerous threat, but it can also work on its own. DO NOT execute it!
The ieupdates.exe file is installed and used by IEMonit.
The ieupdates.exe file usually runs the same named process. This process silently works in background and performs harmful actions. It remains active while ieupdates.exe is present in the system. Removing the file will immediately terminate a process and prevent it from running later. That is why you have to manually delete the ieupdates.exe file. If you cannot erase it, consider using recommended spyware removers, which will get rid of ieupdates.exe and associated parasites for you.
Sometimes a presence of ieupdates.exe does not indicate that your computer is infected. It can be an essential system file or a file installed by harmless legitimate software and therefore may not pose any threat to your privacy and the system. Although such cases are quite rare, you should thoroughly examine ieupdates.exe before completely deleting or leaving it in the system.