Chinese Hack of U.S. Treasury Targets Economic Sanctions Office

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A cyberattack by Chinese government hackers successfully breached the U.S. Treasury’s office responsible for administering economic sanctions, the Washington Post reported on Wednesday. According to unnamed U.S. officials, the hackers infiltrated the Office of Foreign Assets Control (OFAC), the Office of Financial Research (OFR), and even targeted the office of U.S. Treasury Secretary Janet Yellen.

The Treasury Department had already disclosed the breach earlier this week in a letter to lawmakers, describing it as a “major incident” where unclassified documents were stolen. However, the department did not reveal the specific departments or individuals affected by the attack.

In response to the Washington Post‘s report, Liu Pengyu, a spokesperson for the Chinese Embassy in Washington, dismissed the U.S. claims as “irrational” and lacking factual basis, calling them “smear attacks” against China. The statement emphasized that China opposes all forms of cyberattacks but did not specifically address the report regarding the targeted offices.

The Treasury Department has not yet commented on the details revealed in the Washington Post report. According to the sources cited by the paper, Chinese government hackers were likely focused on gathering intelligence about Chinese entities that the U.S. might consider sanctioning in the future.

The Treasury’s earlier disclosure mentioned that the breach involved third-party cybersecurity service provider BeyondTrust. Chinese entities and individuals have been frequent targets of U.S. sanctions, which are a key component of Washington’s foreign policy towards Beijing. Last month, U.S. Treasury Secretary Janet Yellen confirmed that the U.S. would not rule out sanctions on Chinese banks in its efforts to curb Russia’s oil revenue and limit access to foreign supplies, in connection with the ongoing war in Ukraine.

 

Malaysia Grants Licences to WeChat and TikTok Under New Social Media Law

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Malaysia’s communications regulator has granted licences to WeChat and TikTok to operate under the country’s new social media law, which aims to combat rising cybercrime. The law, which took effect on January 1, mandates that social media platforms and messaging services with more than 8 million users in Malaysia must obtain a licence, or face legal action.

The Malaysian Communications and Multimedia Commission (MCMC) announced on Wednesday that Tencent’s WeChat and ByteDance’s TikTok have been granted their licences. Messaging platform Telegram is in the final stages of the application process, while Meta Platforms, which owns Facebook, Instagram, and WhatsApp, has begun the licensing procedure.

However, some platforms have not applied for the licence. X (formerly Twitter) has not submitted an application, stating that its local user base does not exceed the 8 million threshold. The regulator is currently reviewing the validity of this claim. Additionally, Alphabet’s Google, which operates YouTube, has not applied for a licence either, citing concerns about YouTube’s video-sharing features and how they relate to the new law. The MCMC has indicated that YouTube must still comply with the licensing requirements.

The law requires platforms to adhere to guidelines to curb harmful content, including online gambling, scams, child pornography, cyberbullying, and offensive content related to race, religion, and royalty. Malaysia has seen an uptick in harmful social media content in early 2024, prompting authorities to urge platforms like Meta and TikTok to enhance their monitoring efforts.

While companies do not disclose their user numbers per country, independent data suggests WeChat has 12 million users in Malaysia, while TikTok has around 28.68 million users aged 18 and above. Facebook has 22.35 million users, YouTube has 24.1 million users, and X has 5.71 million users in the country.

 

US Appeals Court Blocks Biden Administration Effort to Restore Net-Neutrality Rules

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A U.S. appeals court ruled on Thursday that the Federal Communications Commission (FCC) did not have the legal authority to reinstate net neutrality rules. This decision is a setback for the Biden administration, which had made restoring the open internet rules a priority. In 2021, President Joe Biden signed an executive order urging the FCC to reinstate the rules, which were originally implemented in 2015 under President Barack Obama, then repealed by President Donald Trump’s FCC in 2017.

The ruling by a three-judge panel from the 6th U.S. Circuit Court of Appeals, based in Cincinnati, stated that the FCC lacked the authority to reinstate the net neutrality rules. These rules require internet service providers (ISPs) to treat internet data and users equally, prohibiting them from slowing speeds, restricting access, or blocking content. The rules also prevent ISPs from offering improved speeds or access to favored users.

The court’s decision cited the Supreme Court’s June ruling in the Loper Bright case, which overturned a 1984 precedent that had previously granted deference to government agencies in interpreting laws. This decision curtails the power of federal agencies, including the FCC. The ruling keeps state-level neutrality rules, such as those in California, in place but may effectively end over 20 years of efforts to provide federal oversight over the internet.

FCC Chair Jessica Rosenworcel called for Congress to act, emphasizing that consumers have expressed the desire for a fast, open, and fair internet. “With this decision, it is clear that Congress needs to take up the charge for net neutrality and put open internet principles into federal law,” Rosenworcel said.

Incoming FCC Chair Brendan Carr, who had voted against reinstating the rules, celebrated the court’s decision, criticizing the Biden administration’s attempts to expand regulatory control over the internet. Industry groups, including USTelecom, which represents major ISPs like AT&T and Verizon, applauded the ruling, claiming it would benefit consumers by fostering more investment, innovation, and competition in the digital marketplace.