Ransomware is one of the most active and profound threats facing organizations globally of every size. More sophisticated than ever before with modern variants designed to inflict immense damage and perpetrators demanding higher payouts, successful attacks cost businesses millions of dollars, including disruption to business, personnel cost, device cost, network cost, lost opportunity, reputational harm, and a potential payment of a ransom. The term ransomware refers to the malware used for encrypting files and entire systems however it has largely transformed to indicate a category of financially motivated attacks by leveraging victim extortion. The impact of a successful ransomware deployment includes both technical and non-technical challenges and can be crippling to business operations. Modern day attackers have developed advanced techniques that now require a holistic security risk mitigation strategy from the board to practitioners.