46% of Organizations Pay After a Ransomware Attack: What Can You Do to Prevent Falling Victim to Cybercrime?

Ransomware represents one of the gravest digital dangers that companies encounter in the current digitalized era. This form of malware either encodes files or prevents users from accessing their operating systems until a payment—or ransom—is made.

Cybercriminals exploit techniques such as phishing emails, harmful attachments, or weaknesses in software to breach networks and request payment, frequently in the form of cryptocurrencies. In this article we will go through the best ways businesses can protect themselves against ransomware.

The Economic Effect of Ransomware

The worldwide economic impact of ransomware is immense. In the year 2024, companies around the globe suffered losses exceeding $9 trillion due to cybercriminals, with expenses including ransom demands, lost operational time, data recovery, legal costs, and enhancements to security measures. Experts are sure that the estimated cost of cybercrime worldwide will only get higher, exceeding $15 trillion by 2029.

Based on these alarming figures, businesses must aim to change their privacy policies and adopt preventive strategies to safeguard their assets and data. Rather than responding to ransomware attacks, or even becoming targeted by cybercriminals, companies should focus on an anticipatory approach to their activities.

What Is Ransomware

There is no cybercrime that modern digital forensics services couldn’t handle. Even though you can get help when being targeted by hackers, it is recommended to learn about ransomware beforehand. This way you will be able to understand how a cybercriminal operates when trying to blackmail you into paying money.

Ransomware refers to a category of malicious software that seizes an individual's confidential information or device, threatening to keep it inaccessible or impose worse consequences unless the victim submits a payment to the perpetrator.

Initial ransomware incidents simply asked for payment in return for the decryption key essential to restore access to the compromised information or utilize the infected device. By regularly backing up data, organizations could significantly mitigate the financial impacts associated with such ransomware incidents, often avoiding the need to pay the ransom.

In more recent times, ransomware incidents have transitioned to employ double-extortion and triple-extortion strategies, which significantly heighten the risks involved. Victims who diligently manage data backups or fulfill the initial ransom payment still face potential dangers.

Double-extortion strategies introduce the risk of pilfering the victim’s information and publishing it online. Triple-extortion strategies further escalate the threat by using the acquired information to compromise the victim’s clients or business affiliates.

How Ransomware Attacks Work

Since 46% of businesses targeted by ransomware attacks actually pay ransom, it is crucial to understand how this type of cybercrime works. Attackers often refer to the following entry points that allow them to coerce their victims:

• Phishing Emails: Cybercriminals dispatch emails containing harmful links or attachments to workers, deceiving them into installing ransomware.
• Weak Passwords and Credentials: Cyber attackers capitalize on compromised or easily guessable passwords to infiltrate systems and introduce malware.
• Outdated Software Vulnerabilities: Older app versions might possess security gaps that criminals can take advantage of.
• Compromised Remote Desktop Protocol (RDP): Intruders acquire unauthorized access by exploiting poorly protected remote desktop connections.
• Malicious Websites and Ads: Engaging with infected advertisements or accessing unsecured sites may initiate ransomware downloads.

Approximately 72% of respondents in a World Economic Forum report on cybersecurity in 2025 claim that there is an increased concern about organizational cyber risks. Among them, ransomware still remains the #1 issue.

Cybercriminals refer to the following sophisticated tactics to achieve their malicious goals:

• Double Extortion: Perpetrators seek a ransom not just to decrypt files, but also to avert the release of compromised information.
• Ransomware-as-a-Service (RaaS): Hackers offer ransomware software for sale or lease to fellow hackers, leading to a surge in attacks.
• Social Engineering: Scammers sweet-talk and persuade company employees into disclosing their access information.

The time to put an end to cybercrime is now. Take proactive action in your business operations to prevent further attacks from taking place.

How to Avoid Ransomware Attacks?

Preventing a ransomware incident is much more efficient than managing its aftermath. Here are some strategies that companies can use to safeguard themselves.

1. Employing Robust Cybersecurity Policies

A robust cybersecurity structure greatly reduces potential threats. These techniques are vital for taking back control of your corporate safeguarding policy:

• Implement Multi-Factor Authentication (MFA): This introduces an additional security measure beyond the use of passwords.
• Establish Strict Password Regulations: Mandate that staff create intricate passwords and update them frequently.
• Limit Administrative Access: Allow only key individuals to have access to confidential information.
• Observe Network Activity: Any irregular behavior should prompt security notifications for prompt intervention.

2. Update Your Software and Operating Systems

Not keeping your corporate software updated poses a major threat to security. Companies should:

• Consistently refreshes operating systems, software applications, and security patches.
• Implement automated patch management to guarantee prompt updates.
• Substitute old hardware that does not provide security assistance.

3. Educate Your Staff on Cybersecurity Awareness

Employees frequently represent the most vulnerable aspect of cybersecurity. Ongoing education enables them to identify:

• Fraudulent emails and questionable attachments.
• Hazards associated with obtaining unfamiliar files.
• The a crucial need to report security breaches without delay.

4. Create Regular Data Backups

Regardless of the size of their assets, all companies ought to preserve several data backups to guard against ransomware encryption. Familiarize yourself with the following procedures:

• Implement the 3-2-1 backup strategy: 3 instances of data, 2 distinct storage types, and 1 backup located offsite.
• Regularly check backups to confirm they can be recovered.
• Ensure backups are not connected to the primary network.

Step By Step: How to Respond to a Ransomware Attack

No matter how robust security protocols may be, no system can promise total protection. In the event of a ransomware attack, organizations must respond swiftly. Here is what you should do in such cases:

1. Separate Infected Devices: Remove compromised equipment from the network to stop the spread of ransomware.
2. Evaluate the Impact: Identify which files and systems have been encrypted. Review backups to assess recovery options.
3. Consult Cybersecurity Professionals: Reach out to incident response groups or cybersecurity professionals to investigate the situation and suggest appropriate follow-up actions.
4. Refrain from Paying the Ransom: Monetary payment does not ensure data retrieval, and it supports criminal enterprises. Instead, restore systems using backups.
5. Report the Incident: Inform law enforcement bodies including Interpol Cybercrime Unit, FBI's Internet Crime Complaint Center (IC3), or Europol's European Cybercrime Centre (EC3).
6. Enhance Security After Recovery: Once you have recovered, perform a comprehensive security assessment to uncover weaknesses and avert future incidents.

A Final Word

With nearly half of companies agreeing to ransom payments, ransomware continues to pose a major cybersecurity threat. Nevertheless, the most effective approach is prevention. Companies need to focus on robust security protocols, staff education, consistent data backups, and sophisticated threat detection systems to maintain their safety.

Allocating resources and time to develop a progressive cybersecurity strategy allows companies, regardless of their scale, to significantly reduce the likelihood of being targeted by ransomware, in addition to protecting their data and operational processes.