Recent reports indicate the National Action Party had its website hijacked by state-funded Russian cybercriminals in an attempt to shut it down during the final televised presidential debate. Presidential elect nominee, Ricardo Araya’s party stated that their website was struck with a Distributed Denial of Service Attack (DDoS), which resulted in 185,000 visitors landing on their website within 15 minutes coming from cities in Russia and China.
The intent of a DDoS attack is to bring a website or web-based services down by bombarding the company with so much traffic that their services and infrastructure are unable to handle it all. Once knocked offline, businesses immediately feel the effects of lost profit through business interruption. Depending on the window of downtime and size of the business, this attack can quickly cause hundreds of thousands to millions of dollars in losses.
If the National Action Party had a cyber insurance policy in place, it’s likely that they would be covered from any type of financial loss related to this attack.
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