Trump sanctions Iranian nationals for launching Cyber Attacks on US Banks

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Trump Administration on a recommendation from the Treasury Department of United States has imposed sanctions on seven Iranian Nationals and an Iran based Security Company named ‘ITSec Team’ for playing an active role in launching cyber attacks against several US Financial systems.

The sanctions were pressed against 11 entities and individuals for supporting Iran’s Elite Islamic Revolutionary Guards Corps (IRGC) which is being secretly funded by Russia. Tow Ukraine based companies which involved in launching cyber attacks on airlines are also included into the list.

Steven Mnuchin, the Treasury Secretary of United States issued a statement on this issue which says that Treasury will continue to take strong actions to counter Iran’s provocation, including support for the IRGC-Qods Force and Terrorist extremists responsible for ongoing violence in Syria and cyber attacks meant to destabilize the US Financial system.

Note- Iranian Cyber security firm ITSec Team is being held responsible for conducting Distributed Denial of Service (DDoS) attacks against at least 9 large US Financial organizations, including banks and stock exchanges between 2011 and 2012.

Since the media is flooding with reports that Trump Administration is doing nothing to secure the nation against cyber attacks, White House could have decided to come out with harsh sanctions against perpetrators.

More such sanctions against individuals, companies, and countries are expected to be pronounced by Trump administration in coming days.

Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security