By Dax Janel Valencia
Ransomware readiness has become a critical component of enterprise risk strategy because it shifts the focus from the reactive “break-fix” approach to a more proactive, risk-mitigating cybersecurity strategy. If implemented properly, it can be much more protective and cost-efficient. It can, for instance, help minimize the risk of getting “hijacked” in the first place and having no choice but to pay hefty ransoms.
The amounts demanded by ransomware have always been hefty, but they’ve increased drastically over the years. Infosecurity Magazine notes that in 2016, the ransom demands of these cybercrimes averaged $1,000, whereas in 2025, they averaged a whopping $1.3 million.
With ransomware attacks and schemes becoming more sophisticated, there’s no better time than now to up your enterprise security planning ante and implement proactive anti-ransomware cybersecurity measures.
Ransomware readiness refers to an organization’s proactive risk management strategy aimed at preventing, identifying, mitigating the effects of, and recovering from ransomware attacks. It’s not a single control method; rather, it leverages a combination of policies, tools, and techniques like:
- Data protection strategies using multi-factor authentication (MFA), privilege-based access control, data masking, and strict adherence to regulatory standards
- Maintaining multiple, immutable copies or backups of data
- Enforcing endpoint detection and response (EDR) solutions for continuous end-user device monitoring
- Investing in employee training that educates and spreads ransomware awareness
- Having an incident response plan in place
There’s no single “best” defense for ransomware, as being ready to “face” and stop it requires a multi-layered approach. Still, one of the most straightforward ways to achieve ransomware readiness is partnering with cybersecurity firms with specialized ransomware response teams.
With their industry knowledge, expertise in malware and threat resilience programs, and state-of-the-art technology, they can conduct comprehensive risk assessments. They will then use their findings to create a defense plan tailored to your business’s unique needs and security flaws or weaknesses.
You should deal with ransomware at the very start (nipping it in the bud, as they say), as it’s much more challenging to manage and remediate once it infects your IT system. Dealing with a successful attack is also expensive, so much so that it can be enough to force a business to go under and close.
Costly Ransom Demands and Downtimes
Information-Age.com says businesses that suffer a ransomware attack experience an average of 21 days of downtime. Combined with ransom demands, the consequences of ransomware and downtime result in the average incident costing $2.7 million.
The adverse impacts of ransomware attacks include, but aren’t limited to:
- Lost revenue
- Loss of productivity (e.g., idle staff)
- Reputational damage
- Extensive recovery costs
With ransomware readiness, your organization, whether it’s in Miami, FL, or San Diego, CA, has a lower risk of getting slammed by ransom-demanding malicious software.
Being ransomware-ready doesn’t mean you’re 100% protected (you can still get hit by ransomware). However, it can make the remediation and recovery that follows quicker and more efficient.
The Immense Cost of Ransomware Can Bankrupt You
Considering the high costs associated with a ransomware attack, it’s easy to see how a single incident can lead to a business going under, becoming bankrupt, and ultimately closing. Indeed, many businesses close due to ransomware attacks and data/security breaches.
According to Cybercrime Magazine, six in ten small firms hit by a data breach or hack go out of business within six months of the incident. Minimize the risk of your business being part of those statistics by focusing on ransomware readiness rather than ransomware remediation.
By being ready (i.e., you already have preventive and mitigatory practices in place), a ransomware attack is less likely to be successful in affecting your business. Even if it pushes through, your efficient recovery processes (e.g., malware eradication and backup deployment) can minimize downtime.
Paying the Ransom Doesn’t Guarantee Data Recovery
The U.S. Federal Bureau of Investigation (FBI) doesn’t recommend or support paying the ransom demanded by ransomware perpetrators. As the agency notes, payment doesn’t guarantee you’ll recover the stolen or encrypted data.
Unless you’re ready to counter ransomware, you’re likely to become a victim. If you become a victim, you risk multiple losses: financial or sensitive data, corporate funds, consumer trust, and reputation.
If the attack and its consequences are severe enough, you may even lose your entire business.
Is Paying Ransom for Ransomware Illegal?
No, it’s not illegal. No state or federal law prohibits most small businesses from paying the ransom demanded by cybercriminals. However, as previously mentioned, the FBI doesn’t support paying ransom.
In addition to not serving as a guarantee for data recovery, paying cybercriminals also funds their illegal activities. Malicious actors may use the payments they get to develop even more sophisticated and high-end technology to develop more advanced malware for future criminal operations.
Paying ransom also makes criminals “bolder.” Each payment they acquire establishes how lucrative ransomware is and how they can make even more profit from it. It encourages them to continue their illegal behaviors and target even more victims.
How Do You Know if You’re Under a Ransomware Attack?
If the screens of your devices (e.g., desktop computers, laptops, tablets, or smartphones) have locked and entering the correct codes doesn’t unlock them, chances are, you’re under a ransomware attack.
In most cases, these breaches come with a message on the lock screen. It’ll say something like ransomware has infected the device and that you need to pay the ransom to have the malware eradicated.
In other cases, the malware may only “hijack” specific files or folders. If so, the data will have weird extensions attached to their file names, indicating that something has encrypted them. If you try to open these files or folders, a message will likely appear, giving you instructions regarding the ransom.
Ransomware readiness is more about preventing or minimizing the risk of your organization from becoming a victim of an attack (proactive mitigation) rather than waiting for a breach to happen and fixing it after (reactive approach).
Not only is readiness more cost-effective than a break-fix approach, but it’s also critical to protect your business’s data, reputation, stability, and profitability.
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