President Obama has adopted laws allowing the United States to impose sanctions against any company or organization that benefits from stolen data acquired by piracy. While these companies may be abroad and outside the jurisdiction of America, if the company operated on the world market, it can still be affected by the sanctions imposed on them. USA target foreign pirates comes at a time when cyber crimes are at a high level and the impact of Sony Pictures hack last year is still felt.
The order placed by the president of the United States could potentially mean sanctions against companies in Russia and China that could benefit from security breaches within the United States. With a growing cyber threat from not only criminals but entire countries and the United States seemed necessary to take steps to protect themselves. Many believe that China and Russia are active in using cyber attacks as a means of spying on other countries and organizations.
In May last year, the US Department of Justice has taken action against five Chinese hackers were suspected of being Chinese military, but escaped prosecution because they were beyond the scope of the US judicial system. But with these penalties giving the United States the possibility of hurting the most responsible, the financial markets could really affect those who try to carry out cyber attacks on other countries.
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