The IRS Criminal Investigation division has used Palantir Technologies software since 2018 to investigate financial crimes.
The agency has paid Palantir over $130 million to date for its services. This funding supports the Lead and Case Analytics platform, which aggregates data from federal databases to generate investigative leads.
The platform processes sensitive information including tax returns, bank statements, and Financial Crimes Enforcement Network records. It also maintains the capability to analyze cryptocurrency transactions.
Watchdog group American Oversight raised privacy concerns regarding the large-scale consolidation of personal data by a private contractor.