Iowa Congressman Zach Nunn says recent cyber attacks show communist China is ramping up its attempts to steal information and it’s time to act. Nunn is serving on the House Select Committee on China.
“Communist China’s attempt to pilfer information, both intellectual property as well as American’s personal information — that stops today,” Nunn says.
The Wall Street Journal has reported a recent Chinese hack targeted nine U.S. telecommunications companies and Nunn says Americans should be told more about the cyber attack on the U.S. Treasury. Nunn says the intelligence community had warned the agency it was a prime target for China.
“It has bled out a lot of sensitive proprietary information, personal information and unique small business information that allows China now to compete on an unfair playing field not just against big businesses, but hometown entities and literaly target, recruit and, sadly in some cases, exploit Americans because they now have their individual information,” Nunn says.
Nunn, a Republican from Bondurant, was an intelligence officer in the U-S Air Force and worked in the Obama White House for the Office of the Director of National Intelligence. Nunn says experts are still assessing the scope of China’s hack of the U-S Treasury Department.
“They spoofed credentials that Treasury should have been keeping secure,” Nunn says. “…This gives them a competitive advantage against other marketplaces in the United States where currently China has over 40,000 shell companies operating on U.S. territories.”
Nunn says the breach also means China’s intelligence agency may have obtained information about U.S. companies doing business in China that could lead to China seizing assets or making it more difficult for the American business to operate in mainland China.
Nunn is a member of the Financial Services Committee in the U.S. House as well. He says the panel will consider legislation to ease banking regulations. “There are a number of federal entities that have made it harder for a community lender to be successful and those costs are dumped directly on individuals, whether you’re buying your first car, your first home or you’re just trying to save long term,” Nunn says. “I think this is a great thing we’re going to be able to do, making it easier for everyday Americans to keep more of their hard earned money and reinvent is directly in their community business.”
Nunn is starting his second term in the U.S. House and he will again serve in the House Agriculture Committee.
