Cybersecurity

U.S. establishes sanctions program to combat cyberattacks, cyberspying

President Obama on Wednesday signed an executive order establishing the first sanctions program to allow the administration to impose penalties on individuals overseas who engage in destructive attacks or commercial espionage in cyberspace. In the works for two years, the order declares “significant malicious cyber-enabled activities” a “national emergency” and enables the treasury secretary to target foreign individuals and entities that take part in the illicit cyberactivity for sanctions that could include freezing their financial assets and barring commercial transactions with them.