US economic sanctions to target cyber-attacks and cyberspying

Washington

US President Barack Obama signed an executive order on 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 US citizens and companies from doing business with those targeted for sanctions.