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.

The COVID-19 pandemic had a significant impact on entire industries. Working from home and adapting to the ‘new normal’ has been particularly challenging especially when cybersecurity is taken into account. Cybercriminals thrive in chaos and the chaos brought about by the pandemic caused cybercrimes to skyrocket at such an unprecedented rate. 

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.

Kaspersky Lab researchers have detected new malware designed to steal the credentials of online banking customers. Earlier versions of the new malware, called NukeBot, were known to the security industry as TinyNuke, but lacked the features necessary to launch attacks. The latest versions however, are fully operable, and contain code to target the users of specific banks.