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U.S. economic sanctions to target cyber-attacks, cyberspying

President Barack Obama signed an executive order allowing the use of economic sanctions against perpetrators of cyber-attacks and online corporate espionage.

By Justin Sink | Updated on April 01, 2015

(Bloomberg) — President Barack Obama signed an executive order Wednesday allowing the use of economic sanctions for the first time against perpetrators of destructive cyber-attacks and online corporate espionage.

The move will let the Treasury Department freeze the assets of overseas individuals and entities identified as the source of cybercrimes. The federal government also will be able to bar U.S. citizens and companies from doing business with those targeted for sanctions.

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