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The Obama administration on Wednesday launched the first-ever sanctions program to financially punish individuals and groups outside the United States that are engaged in malicious cyber attacks. U.S. President Barack, in an executive order, declared such activities a “national emergency” and allowed the U.S. Treasury to freeze the assets and bar other financial transactions of entities engaged in cyber attacks. Under the program, first reported by the Washington Post, cyber attackers or those who conduct commercial espionage in cyberspace can be listed on the official sanctions list of specially designated nationals, a deterrent long-sought by the cyber community. The move, which the paper said has been in development for two years, comes after a string of high-profile cyber attacks ranging from corporate hacks targeting Target, Home Depot and other retailers, to an attack on Sony and other data breaches.

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By Jack Kim and Lesley Wroughton SEOUL/WASHINGTON (Reuters) – North Korea, at the center of a confrontation with the United States over the hacking of Sony Pictures, experienced a complete Internet outage for hours before links were restored on Tuesday, a U.S. company that monitors Internet infrastructure said. New Hampshire-based Dyn said the reason for the outage was not known but could range from technological glitches to a hacking attack. Several U.S. officials close to the investigations of the attack on Sony Pictures said the U.S. …