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New OFAC Sanctions Rules Target Cyber-Attacks

Joe Mont | December 31, 2015

Effective immediately, the Treasury Department’s Office of Foreign Assets Control has implemented new rules that execute an executive order issued in April by President Barack Obama. That order authorized sanctions against countries and foreign nationals involved in cyber-attacks against U.S. citizens, companies, or government agencies.

The new rules build upon the Executive Order, “Blocking the Property of Certain Persons Engaging in Significant Malicious Cyber-Enabled Activities,” and formalize a strategy used to increase sanctions against North Korea in response to its alleged role in the hacking of Sony and resulting leaks from its entertainment division.

The regulations, released on Dec. 31, were published in abbreviated form...

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