Obama authorizes sanctions to combat cyberattacks against US

WASHINGTON: President Barack Obama on Wednesday authorized imposing economic sanctions on US and foreign hackers, allowing the government to block the assets of persons involved in cyberattacks on US targets.
“Starting today, we’re giving notice to those who pose significant threats to our security or economy by damaging our critical infrastructure, disrupting or hijacking our computer networks, or stealing the trade secrets of American companies or the personal information of American citizens for profit,” Obama said in a blog post released by the White House.
He added that cyber threats “pose one of the most serious economic and national security challenges to the United States,” and that the sanctions will take aim both at hackers and “against companies that knowingly use stolen trade secrets to undermine our nation’s economic health.”
Obama said in his statement that hackers in China, Russia and Iran were among those attacking US targets and added that “it’s often hard to go after bad actors, in part because of weak or poorly enforced foreign laws, or because some governments are either unwilling or unable to crack down on those responsible.”
The announcement of the new sanctions program comes amid an epidemic of incidents reported in recent months, including a devastating cybertattack against Sony Pictures, and data breaches that stole credit card or health data on tens of millions of Americans.
Under the order, the US Treasury would be able to freeze or block assets of those involved in attacks on “critical” US computer networks, such as banking systems or electic power, or the theft of data such as credit card information, and of companies that profit from such attacks.
“Cyber intrusions and attacks — many of them originating overseas — are targeting our businesses, stealing trade secrets, and costing American jobs. Iranian hackers have targeted American banks,” Obama said. “The North Korean cybertattack on Sony Pictures destroyed data and disabled thousands of computers. In other recent breaches that have made headlines, more than 100 million Americans had their personal data compromised, including credit card and medical information.”
Obama said he would “employ the authorities of my office and this administration, including diplomatic engagement, trade policy tools, and law enforcement mechanisms, to counter the threat posed by malicious cyber actors.” The executive order allows the Treasury and Attorney General’s office to impose sanctions on hackers posing “a significant threat to the national security, foreign policy, or economic health or financial stability of the United States.”