Treasury says it needs to modernize its economic sanctions

By MARTIN CRUTSINGER
AP Economics Writer

WASHINGTON (AP) — The Treasury Department says that the economic and financial sanctions the United States has employed over the past two decades to battle global terrorism, nuclear proliferation, drug cartels and other threats need to adapt to a rapidly changing financial world. The department issued a report Monday that said it needs to modernize the technology it uses and upgrade its workforce to deal with new tools and techniques, such as digital currencies.