IRS Suspends Equifax's $7.25M Fraud Prevention Contract

IRS reportedly suspends $7.2 million Equifax contract

IRS suspends Equifax contract: report

Equifax has had a second security breach and that was enough for the IRS to suspend work with the credit reporting bureau under a recent $7.2 million contract extension. "There is still no indication of any compromise of the limited IRS data shared under the contract".

In a statement Friday, the IRS said it suspended the contract as "a precautionary step" while the agency reviews the company's security systems.

The incident comes just over a month after Equifax disclosed a massive data breach in which hackers stole the personal information of more than 145 million USA consumers.

LSU fraternity pledge died during 'Bible study'; 10 brothers arrested
Naquin was charged with negligent homicide in the case. "Let's just wait until the evidence comes in", he told the AP. Around 11 a.m., individuals discovered Gruver still on the lounge chair with a frail heartbeat, police said.

At an October 4 House hearing, IRS officials told lawmakers that a bid for identity management services and e-authentication of taxpayer identities was initially awarded to another contractor, later confirmed to be Experian Information Solutions.

According to the Equifax spokesperson, the Internal Revenue Service told the company on Thursday that it had issued a stop-work order under its contract, which the agency had awarded without considering other bidders.

The company has come under massive pressure since revealing on September 7 that hackers breached its systems in May to gain access to Social Security numbers, birth dates and other personal information on millions of Americans.

Trent Reznor & Atticus Ross' share cover of John Carpenter's 'Halloween' theme
As promised, Trent Reznor has unleashed his cover of John Carpenter's classic Halloween theme - a redo you can now stream in full. Pick up the duo's version of the "Halloween" theme and Anthology: Movie Themes 1974-1998 on Amazon.

Both the IRS and Equifax came under heavy fire from Congress last week who lambasted IRS executives about their decision to award the extension to Equifax.

While the contract is suspended, taxpayers will not be able to create new accounts in the tax agency's Secure Access program, which enables taxpayers to securely access certain IRS services online. "We can not know taxpayers are protected until Equifax is banned from all federal contracts".

This time Equifax discovered a issue with a third party vendor it uses to collect website performance data. We are engaging IRS officials to review the facts and clarify available options.

AbbVie Inc. (NYSE:ABBV) Closed 8.1% Above Its 50 Day Average
The company had revenue of $6.94 billion during the quarter, compared to analysts' expectations of $6.93 billion. The Groesbeck Investment Management Corp holds 80,374 shares with $5.83M value, down from 106,758 last quarter.

The Government Accountability Office later disputed the assertion that IRS had no choice, saying contracting law allowed for the agency to start working with Experian by citing urgent and compelling circumstances that would significantly affect the interests of the US government.

Latest News