U.S. Treasury Secretary Steven Mnuchin, on Wednesday, confirmed that TikTok is under security review by the Committee on Foreign Investment in the United States (CFIUS).
“TikTok is under CFIUS review. We will be making a recommendation to the president this week so we have lots of alternatives,” Mnuchin said.
Reuters reported in November that, Beijing based ByteDance Technology Co, the parent company of TikTok was being investigated by CFIUS over its $1 billion purchase of social media app Musical.ly, after lawmakers raised concerns over how it stores personal data as well as allegations of censorship.
Earlier this month, Secretary of State Mike Pompeo said the U.S. was looking at banning TikTok as well as other Chinese social media apps, citing national security concerns.
A TikTok representative said the company could not comment on CFIUS matters but added that TikTok was working to
“develop a best-in-class security infrastructure” and promote a safe app experience.
TikTok has about 80 million monthly active users in the United States. 60% are female, 40% are male. 60% are between the ages of 16-24. 26% are between the ages of 25-44. 80% are between the ages of 16-34. This data comes straight from TikTok.
The company is already under the radar in many countries now, due to the pandemic situation arising over the coronavirus.
Chinese apps are being accused of data theft in many countries and hopefully, every country is trying to boycott China which is not that easy because from decades we always found Chinese products as the cheap and reliable source in terms of both readymade goods or raw materials and now when we are trying to boycott China we are realising the truth that we need at least 5-6 years or even more than that to completely Boycott China and create our own reliable and cheap source.