Federal Reserve Was Targeted in a Giant Chinese Spy Plot, Report Shows

Federal Reserve Was Targeted in a Giant Chinese Spy Plot, Report Shows

Federal Reserve TARGETED – Chinese Spy Plot Exposed!

(FeaturedNews.com) – Ohio Senator Rob Portman (R) released a report on foreign spies targeting the Fed. “China’s Threat to the Fed: Chinese Influence and Information Theft at US Federal Reserve Banksrevealed efforts by the Asian nation to influence and work against the institution since 2013. Still, the findings did show the US managed to successfully protect against the threat.

The spies would recruit and entice Federal Reserve employees to provide them with details and data about US capital. The foreign personnel even held one worker in China four times, demanding information. When the US citizen refused, the criminals intimidated him, saying harm would come to his family and threatening incarceration. Through these efforts, the operatives gathered intelligence about fiscal policies and procedures.

The report also indicated the Fed doesn’t have sufficient protection against such a campaign. At the heart of the Chinese plot was the use of talent recruitment. There’s no mandate that workers reveal participation in such plans, which is a vulnerability requiring a fix. Additionally, even when the government knew of employee connections to bad actors, nothing happened to stop access to intelligence or confidential data.

Portman said the report uncovered a serious risk that requires the Reserve and FBI to act more vigorously to protect American interests. Fed Chairman Jerome Powell noted his concerns about the information in the document, saying he found the allegations “unfair, unsubstantiated, and unverified.” The senator explained all details came from the agency’s own records.

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