SerpApi.Org
Frank Bisignano, the 66-year-old official who now leads both the Internal Revenue Service and the Social Security Administration under President Donald Trump, has been accused of using sophisticated surveillance software to monitor the private emails of colleagues and rivals during his tenure as a top executive at JPMorgan Chase.
The allegations, first reported by The Wall Street Journal in an investigation by Alexander Saeedy, center on Bisignano’s time as the bank’s co-chief operating officer more than a decade ago.
Bisignano directed his security team to deploy software capable of accessing the inboxes of executives he viewed as rivals within the bank. Among those allegedly targeted was Charlie Scharf, then head of JPMorgan’s consumer banking division and now CEO of Wells Fargo.
According to the report, Bisignano used the information to maintain tight control over employees and undermine rivals as he expanded his influence within the bank.
The denial
Bisignano’s attorney, Courtney Forrest, denied the allegations, saying he never directed anyone to review employees’ or executives’ communications or engaged in surveillance while at JPMorgan.
Forrest also disputed several specific claims in the report. One executive who suspected he was being monitored allegedly inserted a private code phrase into an email as a test and later claimed Bisignano repeated it back to him, suggesting he had read the message. Forrest called that account false.
She also denied allegations that Bisignano had staff monitor employees’ keystrokes or obtained a confidential complaint filed with the Federal Energy Regulatory Commission over a disputed derivatives trade. Forrest further rejected the claim that Bisignano kept dossiers on employees in a drawer in case anyone “went native” — an internal term allegedly used to describe disloyalty.
What investigators reportedly found
After Bisignano left JPMorgan, forensic teams examining the bank’s systems reportedly found electronic evidence that his staff had accessed sensitive internal records and employee communications.
His successor as chief operating officer, Matt Zames, later tightened internal surveillance controls by requiring formal legal approval before employee emails could be accessed.
The circumstances surrounding Bisignano’s 2013 departure have also drawn scrutiny. Per reports, CEO Jamie Dimon had grown increasingly distrustful of him by late 2012 amid complaints about his conduct and management style and told him to seek opportunities elsewhere.
Forrest disputed that account, saying Dimon never asked Bisignano to leave and that he voluntarily departed in 2013 to become CEO of payments company First Data. The report also noted that Dimon publicly described Bisignano as a “highly talented executive” when he left.
The Palantir connection
A 2018 Bloomberg Businessweek investigation reported that JPMorgan employed former Secret Service agent Peter Cavicchia III to lead an internal security team that used data-mining software built by Palantir Technologies, the company co-founded by Peter Thiel, to monitor employee communications, including those of senior executives.
JPMorgan fired Cavicchia in 2013 after becoming suspicious of him during an internal investigation about a federal probe into the bank over alleged manipulation of U.S. electricity markets.
Cavicchia used the surveillance platform, known internally as Metropolis, to access emails tied to the leak investigation, including messages written by senior executives. Bank investigators believed he shared those communications with Bisignano after he had left to run First Data.
Inside JPMorgan, he was described as Cavicchia’s patron — a senior executive who protected and promoted him. When the bank later shut down the surveillance program, Cavicchia joined Bisignano at First Data, according to records.
Transition to government roles
Following his private-sector career, President Trump appointed Bisignano to lead the Social Security Administration and he was later confirmed by the Senate. He subsequently assumed responsibility for leading the IRS.
In July, the Treasury Department assigned him responsibility for implementing Trump Accounts, a tax-deferred savings program for children.
Current oversight and cybersecurity concerns
Bisignano’s leadership of two agencies that oversee sensitive taxpayer and financial records has drawn scrutiny.
In March, he told the House Ways and Means Committee that the IRS was conducting a “thorough cybersecurity review” to address concerns about taxpayer data protection.
Lawmakers, including Rep. Suzan DelBene, questioned his commitment to safeguarding Americans’ information, citing controversies including the IRS’ data-sharing agreement with Immigration and Customs Enforcement.
