Hackers frequently rely on deception to gain access to business systems. By impersonating trusted companies, coworkers, or vendors, cybercriminals trick employees into clicking malicious links or opening infected attachments. One click is often all it takes to install malware and expose an organization to the high cost of ransomware, which extends far beyond the ransom demand itself.
Ransomware attacks don’t always begin with phishing emails. In 2016, the St. Louis Public Library suffered a major ransomware incident caused by a network intrusion rather than an email-based attack. Hackers gained access to internal systems and quickly locked down more than 700 computers, demanding $35,000 to restore access. While the library avoided paying the ransom thanks to strong backup practices, the incident highlighted how quickly ransomware can disrupt operations and impose the high cost of ransomware on unprepared organizations.¹
Across the United States, ransomware has become one of the most expensive and damaging cyber threats facing businesses. According to industry reports analyzing hundreds of thousands of incidents, ransomware demands alone exceeded $1.3 billion in 2020.² That figure only accounts for ransom requests—not the true financial impact. When factoring in business interruption, recovery efforts, reputational damage, and lost productivity, the high cost of ransomware escalates dramatically. With average downtime reaching 16 days per incident, total losses for U.S. businesses climbed beyond $9.2 billion in a single year.²
Ransom demands themselves continue to rise. By the fourth quarter of 2019, the average ransom demand had reached more than $84,000.³ However, many organizations have faced demands far exceeding that figure. Attackers increasingly understand that operational disruption creates urgency, pushing victims to make decisions quickly. As a result, the high cost of ransomware often forces businesses into an impossible choice: pay criminals or endure prolonged downtime, data loss, and operational chaos.
Contrary to popular belief, ransomware attacks aren’t limited to large enterprises or government agencies. Small and mid-sized businesses are frequent targets because they often lack robust security controls, dedicated IT security teams, or tested recovery plans. Cybercriminals know that smaller organizations may feel the high cost of ransomware more acutely, making them more likely to pay. Unfortunately, paying a ransom does not guarantee recovery, nor does it prevent future attacks. In many cases, businesses that pay are flagged as willing victims and targeted again.
Once an organization experiences a ransomware attack, the damage often extends well beyond IT systems. Downtime impacts revenue, customer trust, and employee productivity. Data loss can halt operations entirely, while regulatory and compliance concerns add additional risk. Even after systems are restored, businesses must invest time and resources into forensic investigations, system hardening, and employee retraining—all contributors to the high cost of ransomware that aren’t reflected in ransom statistics alone.
The most effective way to avoid ransomware isn’t choosing between bad options after an attack—it’s preventing the attack altogether. Proactive security measures dramatically reduce risk and minimize the potential impact of ransomware incidents. Cloud-based backups are a critical component of any disaster recovery strategy, ensuring data can be restored quickly without negotiating with attackers. This approach was key to the St. Louis Public Library’s ability to recover without paying a ransom.¹
Secure remote access is another essential safeguard. Employees working from home, traveling, or using public internet connections are especially vulnerable to credential theft and malware infections. Without proper protections in place, a single compromised login can expose an entire network to ransomware. As cybercriminal tactics evolve, staying ahead of threats requires constant monitoring, patching, and user education—efforts that demand time, expertise, and resources.
For many organizations, building and maintaining an in-house security team isn’t realistic. Partnering with an experienced IT security provider offers access to advanced tools, threat intelligence, and proven processes designed to reduce the high cost of ransomware before an incident occurs. A proactive IT partner helps organizations shift from reactive crisis response to strategic risk management.
Once an organization is subjected to a ransomware attack, they’re between a rock and a hard place. Refuse to pay up, and you might be looking at weeks of downtime, lost data, and other disasters that can cripple operations. When a business does pay up, they’re essentially adding malicious hackers to their payroll. Worse still, organizations that pay ransomware demands are identified as known buyers, which may inspire more attacks in the future. Instead of choosing the lesser of two evils during an attack, take a proactive approach against ransomware. Each of the following steps can dramatically reduce IT risk for an organization: Some businesses pay ransomware demands because they simply can’t afford to lose their data. Cloud-based backup is a critical part of any disaster recovery plan. This is why the St. Louis library was able to recover so well from their attack. Employees are at higher risk when traveling, working from home, or using public internet. Secure remote access is a must-have now that everyone works on the go. Cyber criminals are always finding new ways to cause chaos, steal data, and extort businesses. As hackers get more sophisticated, it’s a full time job to stay a step ahead of them. If you don’t have the payroll to build a team of security experts, find an IT security partner to protect your business. Here at ThrottleNet, we like to think of ourselves as the opposite of the hackers we oppose. Instead of giving you two bad choices like ransomware does, we want you to have lots of options. That’s why we offer free consultations, allowing you to gather more information before you make a decision.
At ThrottleNet, we believe businesses deserve better options than the two bad choices ransomware presents. Instead of reacting to attacks, we help organizations strengthen defenses, improve resilience, and protect critical data long before threats strike. Our approach emphasizes prevention, visibility, and informed decision-making—so you’re never forced to gamble your business on a ransom demand. We offer free consultations to help you understand your current risk and identify practical steps to reduce exposure. Contact us today to get started, and we’ll get to work protecting your business.
*1source: https://www.digitaltrends.com/computing/library-doesnt-pay-ransom/ *2source: https://blog.emsisoft.com/en/35583/report-the-cost-of-ransomware-in-2020-a-country-by-country-analysis/ *3source: https://www.coveware.com/blog/2020/1/22/ransomware-costs-double-in-q4-as-ryuk-sodinokibi-proliferate
