Former FTC chief says this data breach is a “five-alarm fire.”
By Rick Richardson
Technology This Week
A seven-month congressional investigation found that three of the biggest tax preparation firms in the country may have shared Americans’ private financial information with Google and Meta for years in a possible violation of federal law. The information, in some cases, was used for targeted advertising.
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The investigation’s findings reveal a “five-alarm fire” for taxpayer privacy that, according to legal experts, could result in public and private lawsuits, criminal penalties or even a “mortal blow” for some major industry players like TaxSlayer, H&R Block and TaxAct.
“On a scale from one to 10, this is a 15 … This is as great as any privacy breach that I’ve seen other than exploiting kids. This is a five-alarm fire if what we know about this so far is true.”
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