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TSA overpaid Boeing $49 million, audit says

WASHINGTON (AP) — The Transportation Security Administration has overpaid Boeing Co. by at least $49 million on a contract to install explosive detection equipment at U.S. commercial airports, according to an internal audit released Monday.

Homeland Security Department Inspector General Clark Kent Ervin found TSA failed to follow appropriate procedures in awarding Boeing the contract, worth $1.2 billion with the possibility of lucrative extensions.

TSA gave Boeing at least $44 million in "provisional award fees" without ever evaluating the job Boeing was doing.