Big Data Analytics for Cybersecurity and Fraud - BestCyberNews: Online News Presenter in the present world

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Big Data Analytics for Cybersecurity and Fraud

Fast access to big data is fueling sharp analytics that find malicious security events. We delineate areas where enterprises are seeing results, and note the market suppliers that enable them.

IBM announced a "Smarter counter fraud" initiative, which is intended to fight crime with new software that will let organizations tap into mobile, social, and Internet data to locate sketchy behavior and stop fraud before it happens.

According to PCMag, IBM's software will pick up on "non-obvious relationships" and links between entities. 

IIBM said, it uses "enhanced visualization technologies that can identify and connect fraudulent patterns closer to point of operation, and machine learning to help prevent future occurrence based on previous attacks and behaviors."

IBM pointed to the theft of nearly $21 billion in 2012, from more than 12 million victims of identity fraud—the highest amount since 2009. The U.S. healthcare industry alone loses $650 million due to fraudulent claims and payments.

According to a recent Gartner report, as noted by IBM, 25 percent of large global companies will have adopted these sort of big-data analytics by 2016. 

So IBM is just getting a jump on the competition, offering software that can detect cross-channel mobile fraud, prevent phishing scams, review thousands of claims in real-time, and detect money laundering activities.

"Our new initiative puts Big Data and Analytics into the hands of those tasked with defending their organizations from financial losses, protecting the brand and delivering exceptional customer service," Griffin said.

Author Venkatesh Yalagandula Follow us Google + and Facebook and Twitter

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