Kaspersky Labs, a Russian cybersecurity firm, has announced it will leave the US market after the Biden administration banned sales and distribution of its software in the country. The US Commerce Department banned Kaspersky products, citing national security risks from Moscow's potential influence over the company and its ability to access and weaponize Americans' personal data. Kaspersky will stop all US operations and eliminate local jobs as business opportunities are "no longer viable" due to the ban. Commerce Secretary Gina Raimondo stated that the U.S. was forced to act because of Russia's "capacity and... intent to collect and weaponize the personal information of Americans".
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00:00It's Benzinga, and here's what's on the block.
00:02Casper Sky Labs, a Russian cybersecurity firm, has announced it will leave the U.S. market
00:07after the Biden administration banned sales and distribution of its software in the country.
00:12The U.S. Commerce Department banned Casper Sky products, citing national security risks
00:16from Moscow's potential influence over the company and its ability to access and weaponize
00:20Americans' personal data.
00:22Casper Sky will stop all U.S. operations and eliminate local jobs as business opportunities
00:27are no longer viable due to the ban.
00:30Commerce Secretary Gina Raimondo stated that the U.S. was forced to act because of Russia's
00:34capacity and intent to collect and weaponize the personal information of Americans.
00:38For all things money, visit Benzinga.com.