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This Isn’t A Joke: The IRS Just Hired Equifax To Safeguard Taxpayer Data

Rich Uncle Pennybags (R) from the board game Monopoly came to life Wednesday and stole the spotlight from Equifax CEO Richard Smith (L) during his testimony to the Senate Banking Committee on the credit reporting agency's data breach.

By Tyler Durden | 4 October 2017

ZERO HEDGE — Just hours after Equifax CEO Rick Smith wrapped up his testimony before the House Energy and Commerce committee – the first in a series of Congressional “fact-finding missions” about the hack – Politico reported that the IRS last week awarded the disgraced credit monitoring bureau with a $7.25 [million] no-bid contract even as the company struggled to address suspicions that it mislead investors and customers by withholding information about one of the most damaging data breaches in US history.

Equifax famously waited more than a month to disclose that hackers had infiltrated its servers and absconded with the sensitive financial information of more than 140 million customers, sparking widespread outrage that only intensified after reporters discovered that several of the company’s senior executives – including its CFO – cashed out of shares and options in the weeks before the company came clean about the hack.

According to the terms of the IRS contract, Equifax would be responsible for verifying taxpayer identities and help prevent fraud under a no-bid contract issued last week. […]

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