Chairman John Moolenaar of the Select Committee on China has sent a letter to Treasury Secretary Scott Bessent about financial technology company Airwallex, and its ties to China-based entities handling sensitive U.S. financial data. The letter details Airwallex’s significant China-based employee count, links to the Chinese government, susceptibility to Chinese national security laws, cybersecurity vulnerabilities, data handling, and other concerns. The letter requests Treasury assess the risks and provide a briefing to the committee.  

In the letter, Chairman Moolenaar writes:

Chairman John Moolenaar of the Select Committee on China recently sent a

Chairman John Moolenaar (R-MI) of the Select Committee on China and Senator Bernie Moreno (R-OH) discussed their Connected Vehicle Security Act at a public event hosted by the American Enterprise Institute in Washington, D.C. The legislation would protect American drivers from predatory automotive technologies owned by China that imperil our national security and economy.

"Our government exists to secure our rights - it's the other way around in China....Think of the sensors, think of the cameras, the microphones, all of that is collecting data," said Moolenaar. "These vehicles are rolling data collection devices."