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Congress warned U.S. is in the dark about foreign investment, vulnerable to Chinese takeovers

A former Commerce Department official warned lawmakers that the federal government is blind to who is bankrolling purchases of companies and critical technology in the U.S., making America vulnerable to foreign threats including from China. 

Nazak Nikakhtar, formerly a Commerce Department assistant secretary in the Trump administration, told lawmakers that companies are failing to adequately investigate funding sources for their work and the U.S. government has sometimes failed to conduct due diligence as well.

Ms. Nikakhtar was the Commerce Department’s lead representative to the Committee on Foreign Investment in the United States (CFIUS), which scrutinizes commercial transactions for national security risks. 

“As the former head of CFIUS at the Commerce Department, yes, we were completely in the dark, our intelligence community didn’t have adequate information, and I was frequently in the office until three in the morning using any open source information I could to get to the

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