On April 1, 2015, President Obama issued an executive order declaring “cyber-enabled malicious activities” a national emergency due to the “increasing prevalence and severity” of such attacks originating from or directed by persons outside the United States.1 The executive order gives the Secretary of the Treasury, in consultation with the Attorney General and the Secretary of State, the power to impose economic sanctions on certain designated individuals and entities that have been directly or indirectly involved in malicious cyberattacks against U.S. networks, critical infrastructure, as well as those involving the theft of economic resources or personal and financial information, or the misappropriation of trade secrets.
Continue Reading President Obama Creates New Sanctions Regime to Combat Foreign Cyberthreats