US Watchdog Cfius Discloses $60 Million Fine Against T-Mobile
- Penalty was largest ever imposed by foreign investment panel
- Move by Cfius intended to foster compliance, transparency
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The government watchdog that oversees foreign investment in the US for the first time named a company it had penalized — telecom giant T-Mobile US Inc. — as it escalated pressure on firms to comply with national-security rules linked to acquisitions.
The Committee on Foreign Investment in the United States, or Cfius, fined T-Mobile $60 million earlier this year for failing to prevent or disclose unauthorized access to “certain sensitive data,” the panel said on its website. T-Mobile had signed a national security agreement with Cfius in 2018 as part of its merger with Sprint.