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IRS Suspends Equifax's $7.25M Fraud Prevention Contract

Law360, New York (October 13, 2017, 4:27 PM EDT) -- The IRS has suspended its $7.25 million contract with Equifax Inc. involving taxpayer identity verification services, a company spokesperson confirmed with Law360 on Friday, a move that follows lawmakers’ questioning about why the credit-reporting agency got a contract after it suffered a massive security breach.

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. Equifax had landed the contract in late September,...
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