France's bank security company leaves Russian market

The French company Thales Group, which rendered protection services for payments and verification of PIN codes on cards for 20 Russian banks, has announced the termination of activity in the Russian market.

“Thales Group was not the only company that supplied HSM [Harware Security Modules] to Russia, which protects transactions and data of bank customers. Similar services were provided by the American company Entrust as well,” the US business magazine Forbes quotes an unnamed company representative as saying.

Thales Group is a French multinational company that designs and builds electrical systems and provides services for the aerospace, defence, transportation and security markets.