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Ransomware attacks in the private sector, commercial sector, and others have been rampant in recent times. These attacks have serious ramifications for the affected sectors, causing interruptions in services, spoofing personal information, breaks down the whole enterprise network infrastructure, and accesses sensitive information among other effects (Aldaraani & Begum, 2018, April).). These effects have huge financial implications for the affected parties.

Due to the evolving nature of the attacks and their complexity that makes it very expensive for companies to invest in security infrastructure against them, many companies are no longer trying hard to protect their data (Rendell, 2019). This is because they find paying for some damages caused by the attacks more affordable as compared to installing security infrastructure.

However, this position is dangerous to the success and survival of enterprises. These attacks can wipe out the entire business and make the damages caused impossible to salvage by paying for them. It, therefore, follows that the best way to deal with the threat is to implement the right security program and have the right skilled professionals in place to secure an enterprise’s data (Kello, 2018).  Without having skilled staff to effectively manage the security infrastructure, a huge budget alone is worthless as malware and ransomware continue to advance even further (Llansó et al., 2019, January). Nurturing a new modern cybersecurity culture and keeping the doors for cybersecurity threat actors tightly closed is the surest way to secure organizations.

Acquiring client data is very costly and therefore no organization should relent in securing such data against cyber threats. Losing such data can lead to significant losses, bankruptcy, or even liquidation. I believe firms that are not taking cyber threats seriously risk closing down and going out of business.

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