How the French tech firm Thales works with russian sanctioned banks

06:25, 03.06.2022
  • Thales Group is a French multinational company that is a global high technology leader. One of Thales Group’s subsidiaries is Thales Defense & Security, Inc. (Clarksburg, MD, U.S.: HO) serving the defense, federal, and commercial markets with innovative solutions for the ground tactical, airborne and avionics, naval/maritime, and security domains.
  • Soon after Russia invaded Ukraine, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on one of the leading Russian banks, Alfa-Bank. Despite this fact, Thales continues to provide its services to the bank. 
  • In particular, Alfa-Bank now uses the SafeNet eToken USB Authenticator from Thales for secure Web access and VPN. It secures Alfa-Bank's customer database and customer accounts.
  • Thales also prepared a customized out-of-the-box solution called SafeNet eToken USB Authenticator for Alfa-Client On-line allowing customers to process electronic documents, monitor transaction status, contact bank, and import and export data to accounting systems while secured through SafeNet eToken robust smartcard, verifying the identity of the person accessing the account.
  • Russian banks also actively purchase PayShield from Thales through tenders. PayShield is the world's leading payment hardware security module (HSM), helping to secure point of sale (POS) transactions.
  • According to the procurement database, PayShield is now used by such Russian banks as Vostochny Bank, Rosgosstrakh Bank, SNGB (Surgutneftegazbank), and Sberbank.
  • Moreover, PayShield is used by the sanctioned russian National Commercial Bank, headquartered in ocuppied by russians Simferopol, Crimea.
  • Thus, Thales keeps providing its services to numerous russian businesses, including state-owned enterprises, sanctioned ones, and those located in Crimea occupied by russia. 
  • The Economic Security Council of Ukraine calls on the French company Thales Group to cease all its operations in russia, as it is waging an aggressive war in Ukraine.