Kaspersky Withdraws from U.S. Market After Commerce Department Ban

Money | July 16, 2024, 5:44 a.m.

Russian security vendor Kaspersky is ceasing its operations in the U.S. market following a ban imposed by the Commerce Department due to national security concerns. The ban, set to take effect on July 20, 2024, prohibits the sale of Kaspersky software in the country. The company, which is expected to lay off less than 50 employees, stated that the decision was necessary as continued business in the U.S. is no longer viable. The Commerce Department's investigation revealed potential risks of data theft, espionage, and system malfunctions if Kaspersky software is used in critical infrastructure. Despite Kaspersky denying engaging in activities that threaten national security, U.S. customers are advised to switch to alternative tech solutions by September 29. The ban highlights the ongoing tensions between Russia and the U.S., impacting the cybersecurity landscape and raising concerns about potential vulnerabilities in U.S. systems.