Obama Authorizes Sanctions to Combat Cyberattacks

President Barack Obama on Wednesday authorized imposing economic sanctions on U.S. and foreign hackers, allowing the government to block the assets of persons involved in cyber attacks on U.S. targets.

"Cyber threats pose one of the most serious economic and national security challenges to the United States, and my administration is pursuing a comprehensive strategy to confront them," Obama said as he issued the executive order.

Under the order, the U.S. Treasury would be able to freeze or block assets of those involved in attacks on "critical" U.S. computer networks, such as banking systems or electric power, or the theft of data such as credit card information.

"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 in a blog post issued by the White House.

"The North Korean cyber attack 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."