Criminal activity is rampant, and the brash sophistication of recent attacks—as well as the magnitude of damage— is making fraud a top priority. Consumers are concerned about their privacy and security., government agencies are working out how to address the volume of improper payments and claims and businesses are wrestling with financial losses as well as lasting brand damage.
"IBM is applying many of the same tactics, techniques and procedures used by the intelligence and law enforcement communities to help commercial organizations take a holistic view of this growing and pervasive threat,” said Robert Griffin, VP IBM Counter Fraud Solutions. "These technologies allow organizations to move and adapt at the speed of threat in ways that human beings simply can't. 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."