In a world where cyberattacks are becoming both more frequent and more sophisticated, the most cyberattack-targeted nation in the world has decided to use its significant economic power to dissuade attackers from targeting the United States. President Obama signed an executive order today that authorizes new sanctions against groups that conduct cyberattacks which threaten the United States.
The White House has set out plans to use economic sanctions against cyber attackers and companies that benefit from the online theft of secrets. An executive order signed today authorises a set of new sanctions against individuals or groups whose cyber attacks result in significant threats to US national security or economic health. It gives authorities the power to freeze assets, and also allows sanctions to be applied against companies that knowingly use stolen trade secrets. The wording of the President’s executive order certainly adds an element of drama, stating that “the increasing prevalence and severity of malicious cyber-enabled activities” pose an “unusual and extraordinary threat” to the national security, foreign policy, and economy of the US. “I hereby declare a national emergency to deal with this threat,” said President Barack Obama in the order.
