Sounds like a stellar way to miss out on talent, alienate people thereby creating opportunities for foreign intelligence agencies, and create institutional and cultural blind spots. Much like the obsession with Islamic terrorism, it ignores the potential of betrayal from racially/culturally “safe” places.
Most of all though, if your security relies on racism to succeed, it’s already failing. You can’t psychically find traitors, and traitors don’t have a race. Traitors can be turned from any group and the only defense is to evaluate everyone impartially, relentlessly, and consistently. If you find those measures insufficient, don’t turn to profiling race, study behavior!
Profiling is like torture... it appeals to people who don’t understand a damned thing about how either fails in practice... or it appeals to people who already like such ideas regardless of merit.