Sanction rules adopted for cyberattackers

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The federal government issued The Cyber-Related Sanctions Regulation on December 31, 2015, which allows the freezing of assets of suspects who aid in cyberattacks. The Regulation follows an Executive Order from April, 2015, which allows officials to determine that money transfers by individuals suspected of playing a role in a cyberattack targeting national security, foreign policy or the economic health or financial stability of the United States to be “null and void.”

The Office of Foreign Assets Control can also deny licenses to those covered by the Executive Order and keeps a list on its website of individuals who have been determined to have played a role in cyberattacks and who are subject to the sanctions.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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