You can’t make this up. The IRS awarded Equifax with a multi-million dollar fraud prevention no-bid contract despite that its own execs committed market fraud when they sold shares before telling the public they were hacked.
The IRS will pay Equifax $7.25 million to help verify taxpayer identities and prevent fraud under a no-bid contract issued last week.
The credit agency will “verify taxpayer identity” and “assist in ongoing identity verification and validations” at the IRS, according to the award.
The award describes the contract as a “sole source order,” which means Equifax is the only company held capable of providing the service. The order was issued to prevent a lapse in identity checks while officials resolve a dispute over a separate contract.
Both Republican and Democrat lawmakers bashed the IRS decision as irresponsible and horrible.
“In the wake of one of the most massive data breaches in a decade, it’s irresponsible for the IRS to turn over millions in taxpayer dollars to a company that has yet to offer a succinct answer on how at least 145 million Americans had personally identifiable information exposed,” Senate Finance Chairman Orrin Hatch (R-Utah) told POLITICO in a statement.
“The Finance Committee will be looking into why Equifax was the only company to apply for and be rewarded with this. I will continue to take every measure possible to prevent taxpayer data from being compromised as this arrangement moves forward,” Sen. Ron Wyden (D-Ore.) said.
Reps. Suzan DelBene (D-Wash.) and Earl Blumenauer (D-Ore.) also expressed their distaste for the deal writing letters to IRS Commissioner John Koskinen demanding he explains why the agency awarded the contract to Equifax as well as provide information on any alternatives they may have considered.
“I was initially under the impression that my staff was sharing a copy of the Onion, until I realized this story was, in fact, true,” Blumenauer wrote.
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