The threat posed by ransomware is ever-present and continues to increase in volume and sophistication with the advent of AI-enabled deepfakes. Ransomware attacks have become more complex, widespread, and costly, with a global average of 4,000 attacks daily in 2023. The United States is the most targeted country, accounting for 47% of ransomware attacks. Email phishing campaigns, RDP vulnerabilities, and software vulnerabilities are the most common attack vectors. Windows-based executables account for 93% of ransomware, and phishing remains the most common entry point for ransomware attacks. Despite the financial gain being the primary purpose of these attacks, the cost to victims can be substantial, including downtime, revenue loss, brand damage, and cybersecurity insurance coverage often being insufficient. Organizations must prioritize cybersecurity measures, including robust backup strategies, employee awareness training, and incident response planning to minimize the risk and impact of ransomware attacks. The ransomware-as-a-service landscape is resilient, with established players intensifying their activities, and new ones emerging. Law enforcement is increasingly involved in tackling these threats, but doxxing of ransomware affiliates remains a challenge. Ultimately, organizations must be prepared to face the evolving threat landscape of ransomware, which shows no sign of going away anytime soon.