Obama authorizes sanctions to combat cybercrime

President Obama on Wednesday signed an executive order authorizing sanctions against people, businesses, and governments that "engage in malicious cyber-enabled activities" against the U.S.

"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 in a statement.

The first of its kind, the sanctions program would allow the Treasury Department to freeze assets and restrict the financial transactions of those deemed to have used cyberattacks to conduct espionage or disrupt U.S. commerce. The announcement comes months after the federal government last year accused North Korea of carrying out a cyberattack against Sony Pictures.

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