As my colleague Ankit noted, U.S. President Barack Obama just signed an executive order that will permit the government to take financial action (including sanctions) against foreign individuals and groups that commit cyberattacks against U.S. interests. The orderallows the Treasury Department to freeze the assets of entities determined to be responsible for, complicit in, or assisting the cyber theft of trade secrets for financial gain or competitive advantage.
Given that Chinese firms and the Chinese government alike are frequently accused of such cyber theft, the executive order may well face its first major test from Beijing. The U.S. government has already proven willing to publicly charge Chinese citizens with hacking, but the previous indictment of five PLA officers was purely symbolic – the new executive order could mean crippling sanctions for Chinese firms.
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