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Tag Archives: Treasury Department

Treasury Department Studies Blockchain Use to Track Grants

The Department of Treasury is nearing completion of an effort to develop a blockchain-based credit system for recipients of federal grants, FCW reported Friday. Craig Fischer, innovation program manager at the treasury department, said the effort aims to tokenize federal letters of credit for the tracking of awarded grants and associated cashflow.

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GAO: USAspending.gov Improved Data Quality

The Government Accountability Office found that USAspending.gov, a website service that tracks the federal government's expenses, has improved in data quality since a 2017 audit. The service has improved in ensuring the quality of spending data gathered from federal agencies under the Digital Accountability and Transparency or DATA Act, GAO said Friday.

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Treasury Dept Releases Strategy for Streamlining Cloud Acquisition

The Treasury Department has created an “acquisition roadmap” in an effort to standardize and streamline enterprise-wide procurement and deployment of cloud services. A FedBizOpps notice posted Sunday states that the roadmap builds on the department's cloud strategy and seeks to mitigate duplicative contract actions that result from the procurement of proprietary cloud services from varying providers.

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Treasury Dept Issues Sanctions to North Korean Cyber Actors

The Department of the Treasury has issued sanctions against North Korean cyber terrorists who have targeted critical infrastructure. These state-sponsored hacking groups, known as Lazarus Group, Andariel and Bluenoroff, have been working with the Reconnaissance General Bureau, a North Korean intelligence agency, the department said Friday.

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President Trump Signs Legislation Expanding IRS IT Modernization Authorities

President Trump has signed the Taxpayer First Act extending the Internal Revenue Service’s authority to directly hire cyber staff and offer a higher pay grade for such personnel through 2025, FCW reported Tuesday. The higher salary offer, which can reach up to $240,000, is intended to attract tech and cybersecurity talent, according to the Treasury Department’s inspector general.

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Treasury-OMB Report: Federal Budget Deficit at $779B in Fiscal 2018

Treasury Secretary Steven Mnuchin and Mick Mulvaney, director of the Office of Management and Budget, have issued a joint statement saying the federal budget deficit reached $779B in fiscal 2018, about $113B higher than the shortfall recorded in the previous fiscal year. The FY 2018 deficit was equivalent to 3.9 percent of the U.S. gross domestic product and $70B less than the projected shortfall in the Mid-Session Review for FY 2019, according to the statement published Monday.

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