US Imposes Sanctions on Kaspersky Lab Executives and Board Members for Alleged 'Cooperation' with Russia

Money | June 21, 2024, 5:04 p.m.

The Biden administration recently announced sanctions against 12 top executives of Kaspersky Lab, a Russian cybersecurity company, following the Commerce Department's ban on the sale of Kaspersky's antivirus software in the US due to national security concerns. The Treasury Department's Under Secretary emphasized the need to protect the nation from cyber threats with these measures. While the CEO and the company itself were not sanctioned, the individuals targeted will face challenges starting businesses in the US. The Commerce Department also restricted Kaspersky's operations in the US, Russia, and the UK, citing their collaboration with Russian military and intelligence agencies for cyber intelligence. Users of Kaspersky's software have until September 29th to switch to alternative cybersecurity solutions. These actions underscore the government's dedication to safeguarding the country's cyber domain and citizens from potential malicious cyber activities.