Leveraging Big Data to Revolutionize Fraud Detection
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Eleman Teitei
Eleman Teitei,
User Rank: Apprentice
11/11/2014 | 11:45:46 AM
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User Rank: Apprentice
7/25/2013 | 4:43:51 AM
re: Leveraging Big Data to Revolutionize Fraud Detection
What is the likely-hood of a person involved in the act of fraud publishing his identity and whereabouts on social media??

What is the likely-hood of social media site giving out identity data to third parties?

Are we arriving at a phase of death or abuse of social media??

I think these questions are basics and common-sense...
Shyam Kadari
Shyam Kadari,
User Rank: Apprentice
7/16/2013 | 9:49:48 AM
re: Leveraging Big Data to Revolutionize Fraud Detection
Excellent article.
Big data techniques can also be used to in intrusion/cyberattacks detection & prevention, customer online access & usage behavioral analytics, AML, KYC, etc.
As you were eluding to in the article above, I would also advise firms to think about overall governance and its applicability to big data.
Frequently firms apply more stringent or similar governance standards to big data solutions than what is in place for traditional solutions. In order to be successful with big data, IT/Business need to engage internal risk, governance, audit, security teams early on and work with them to develop governance standards that are relevant to the company.
User Rank: Author
7/15/2013 | 5:34:34 PM
re: Leveraging Big Data to Revolutionize Fraud Detection
The idea of sing social data to market to to customers better has been discussed, but it is also a good point noting that it can be used for fraud purposes as well.

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