Alarm, we fancy, finding bad program (7)

I believe the answer is:

malware

'bad program' is the definition.
(malicious computer software)

'alarm we fancy' is the wordplay.
'fancy' is an anagram indicator.
'alarm'+'we'='alarmwe'
'alarmwe' with letters rearranged gives 'MALWARE'.

'finding' is the link.

(Another definition for malware that I've seen is " Pernicious computer programs".)

I've seen this clue in The Times.

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