Economy

IRS awards multimillion-dollar fraud-prevention contract to … Equifax

IRS awards multimillion-dollar fraud-prevention contract to … Equifax”

The Internal Revenue Service (IRS) has awarded Equifax a $7.25 million contract to verify taxpayer identities and help prevent fraud under a no-bid contract that was issued after the disclosure of its mega data breach.

A contract award for Equifax's data services was posted to the Federal Business Opportunities database September 30 - the final day of the fiscal year. The breach took place between Mid-May and July, and hackers accessed everything from Social Security numbers to birth dates to driver's license numbers.

Equifax is also facing a number of state and federal probes related to the hack. This week, former Equifax CEO Richard Smith, who retired in the wake of the breach, is being grilled by lawmakers over the major infiltration and its impact on American consumers.

The company endured further criticism in the fallout of the breach after charging individuals to check to see if they were affected in the breach and accidentally tweeting a link to a fake website. The fact that the deal was signed off after the news of the massive security failure broke last month suggests someone at the IRS either doesn't pay attention to the headlines, or just doesn't care one way or the other. The credit agency will "verify taxpayer identity" and "assist in ongoing identity verification and validations" at the IRS, according to the award.

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Markets Insider

After losing private information of over 145 million Americans, Equifax has managed to get another multimillion-dollar contract from the U.S. government.

"Following an internal review and an on-site visit with Equifax, the IRS believes the service Equifax provided does not pose a risk to IRS data or systems", the agency said.

Neither the IRS nor Equifax immediately responded to a request for comment.



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