Trump taps team to work with US Treasury nominee Scott Bessent
President-elect Trump announced several administration changes Thursday, including a team that will work with incoming Treasury Secretary Scott Bessent. President Trump announced in a post on Truth Social that Ken Keyes will become assistant secretary for tax policy. Mr. Keith has been a tax attorney for 47 years and has served as Chief of Staff […]
Top Republican demands ‘costs’ for China after it hacked Treasury Dept in year marked by CCP espionage
The Biden administration announced Monday that China was behind a “massive” hack of the Treasury Department, gaining access to classified documents and government employees' workstations. After a year plagued by hacks across all government agencies, Chinese experts say it's time to get serious about thwarting hostile espionage. “The recent intrusions are not surprising. For too […]
Chinese state-sponsored hackers compromise Treasury Department computers in ‘major’ incident
Treasury officials admitted to lawmakers on Monday that state-sponsored Chinese hackers had breached computers and stolen documents in what they called a “major incident,” according to reports. Reuters. Treasury officials said in a letter to lawmakers that the hackers “gained access to keys used by the organization.” [a third-party] The vendor secures cloud-based services used […]
Chinese hackers breached Treasury Department, agency says
Officials sponsored by the Chinese government hacked into the Treasury Department in early December and accessed unclassified documents from its workstations, the department said in a letter to lawmakers on Monday. The hackers stole keys from BeyondTrust, a third-party software service provider, and used them to disable security and gain access to Treasury workstations, according […]
Chinese hackers infiltrate US Treasury in major cyberattack, officials tell Congress
Chinese government-backed attackers broke into U.S. Treasury Department workstations and accessed “unclassified” documents via a cloud services intrusion earlier this month, officials told a key Senate committee. . The cyber intruder targeted the third-party security system BeyondTrust and reported the breach to the Treasury Department on December 8, prompting the department to take the compromised […]
US may hit new debt limit by mid-January, Treasury Secretary Janet Yellen warns Congress
Treasury Secretary Janet Yellen warned Congress on Friday that “extraordinary measures” will be needed to prevent the U.S. from defaulting on its debt if the debt ceiling is not raised or suspended by mid-January. In a letter to House and Senate leaders, Yellen said the national debt ceiling – the amount the federal government is […]
Treasury Department Disrupts North Korean Crypto Money Laundering Operation Using UAE-Based Shell Company – The Daily Hodl
The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) said it is taking action against individuals and entities involved in this operation to dismantle North Korea's digital asset money laundering network. OFAC said in a statement, say Sanctions Chinese nationals Lu Huaying and Zhang Jian who worked in a network that used front companies […]
US Treasury Turns Frozen Russian Assets Into $20 Billion Loan For Ukraine
The U.S. Treasury on Tuesday transferred $20 billion of a massive $50 billion G7 loan to Ukraine. The funds are channeled through a World Bank intermediary called the Financial Intermediation Fund of Ukraine Strengthening and Investment Promotion Fund (FORTIS Ukraine FIF), and are aimed at strengthening Ukraine's economic stability amid the ongoing conflict with Russia. […]
An unseen financial threat looms before Trump and his Treasury
President-elect Trump and Treasury Secretary-elect Scott Bessent I drew a difficult hand. We all know about this country's ballooning national debt, the continued decline in purchasing power for many Americans, and the many other chronic economic challenges facing this country. But it's the threats we don't see or hear that pose the most immediate and […]
Trump picks economist Faulkender for No. 2 position at Treasury
President-elect Trump announced Wednesday that he will nominate economist Michael Faulkender to be deputy secretary of the Treasury, the second-highest position at the Treasury Department. If confirmed, Faulkender will report to Scott Bessent, President Trump's nominee for Treasury secretary. During Trump's first term, Faulkender at the Treasury Department implemented the Paycheck Protection Program (PPP), which […]