Once again, a Security Flaw has been discovered in the popular (or not so depending on who you ask) Microsoft Internet Explorer.

This one, created in China/Taiwan, is controlled through malicious websites, which, when visited could plant code into your computer which will then do any possible thing the hacker wants..

I'd like to think the good old days of Hackers would return, and all we'll see is a MERRY CHRISTMAS sign up on your screen, but I doubt it.

More likely, it will sit on your PC and track your passwords, pin numbers or whatever else you do.

But should you panic - If you are in China or Taiwan - YES, otherwise, probably not.

On the Second Tuesday of every month, Microsoft trots out its updates, and patches - it's called PATCH TUESDAY.  In Australia, it's Wednesday.

If your computer is (as it SHOULD BE) set to download and install updates AUTOMATICALLY, you'll never know.

The problem was, THIS vulnerability was found just days before Patch Tuesday.  So the Tech media got in a fluff about Microsoft not patching THIS one in the last major run of updates.

A bit much to ask really.  Instead, Microsoft are, within 7-8 days of discovery, tomorrow morning releasing a patch for this gaping security hole.

Until then - relax. Visiting my site, News.com.au, Your banks are essentially as safe as ever.  For THEM to be affected not only would someone need to create a malicious piece of software, but they would need to hack into and edit the trusty site you use for it to then grab your system and reak havoc.

I spoke tonight with STUART STRATHDEE, Microsoft Australia's Strategic Security Advisor - A top bloke, who most certainly was not playing down the seriousness of this security hole, but at the same time acknowledged that the effect outside mainland China was minimal thus far, and that the patch was due tomorrow morning.

The discovery of this hole comes through not only Microsoft's own bug reporting, but vendors too.  Trend Micro in this case noticed the heightened occurrences of peculiar activity and reported it to Microsoft.  Rightly, the hole is now being filled.

What this should do is serve as a reminder to all.

1. SET YOUR WINDOWS UPDATES TO AUTOMATIC (goto START >> CONTROL PANEL >> SECURITY CENTER >> Turn AUTOMATIC UPDATES to ON)
2. INSTALL AND KEEP UPDATED GOOD ANTI-VIRUS (Norton, Trend or Microsoft One Care for example)
   
3. INSTALL AND KEEP UPDATED GOOD ANTI-MALWARE (Ad aware, Windows Defender)

To jump the queue and avoid waiting for your computer to Automatically update, go to http://www.windowsupdate.com/ to get the latest patch