There is a new online threat which is targeting your online banking activity — hackers are attempting to hijack transactions and pocket the money themselves. IBM’s security division has identified this new malware, codenamed Dyre Wolf.

Cryptolocker is a malicious piece of software classified as ‘ransomware’. It encrypts your files with a secret key and then demands that you pay a ransom in order for the files to be released.

File types affected by Cryptolocker include:
Open Office documents, Microsoft Office documents, image files and text files among others.