Cybersecurity Policy Report, Cotton Seeks Security Probe of Payment Firm’s Chinese Ties, (Jun 18, 2026)
A cross-border payment platform that holds sensitive data about Americans has Chinese ownership and should be investigated by the Committee on Foreign Investment in the United States (CFIUS), according to Sen. Tom Cotton (R., Ark.), chairman of the Senate Intelligence Committee.
Sen. Cotton requested the CFIUS review of Airwallex in a letter sent yesterday to Treasury Secretary Scott Bessent, whose department chairs CFIUS, an interagency committee responsible for identifying national security risks of foreign investment in the U.S.
“Airwallex operates as a U.S. money transmitter inside major American corporate payment and workforce management platforms, processing Social Security numbers, dates of birth, payroll records, and travel patterns for leading American artificial intelligence labs and defense contractors,” Sen. Cotton explained.
“While Airwallex markets itself as an Australian company, its ties to Communist China run deep. Tencent and HongShan reportedly hold a combined stake of more than 20 percent,” he said. “About 40 percent of Airwallex employees work in China, all of whom are legally required to covertly assist Chinese intelligence services under China’s National Intelligence Law.”
“Left unchecked, Airwallex has been doubling down. It intends to acquire a US banking license. It holds about 90 financial licenses across 50 markets and has bought three businesses since September 2025, including a financial data platform this month. Each acquisition pulls more American data within reach of the Chinese communists,” he warned.
CFIUS should conduct “a full review of any transaction, bank acquisition, company purchase, or data-rich investment that deepen[s] Airwallex’s footprint,” Sen. Cotton told Secretary Bessent. “If the review confirms the risk, CFIUS should seek the company’s divestment of the Chinese stakes.”
“At a minimum, CFIUS should impose binding conditions that end China-based access to American data and require independent audits,” he added. He noted that he’d already asked the Justice Department to investigate the company’s Chinese ties.
Airwallex did not respond to a request for comment.
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