Digitalization has seeped its way into all areas of society in the postmodern world, namely in the developed world, be it politics or economics; it has changed our lives for the better in the ways that we interact with one another and go about our daily lives. While it has simplified a number of processes and enabled businesses to become more efficient, it has brought about a great deal of vulnerabilities that were not previously accounted for to organizations that use these new emerging technologies.

Thousands of institutions around the world were subject to a series of "WannaCry" ransom attacks over the weekend (starting Friday, May 12), causing data to be encrypted with a claim for payment. The virus was a malicious program that affects smartphones and computers, encrypts and locks their data so that it cannot be accessed until payment is made.

A number of US and European energy companies have been penetrated by a group of sophisticated hackers in a cyber espionage campaign. The cyber-attack successfully infiltrated some of the core systems that control the firms operations according to reports from researchers at security firm Symantec.