A massive international operation has resulted in the arrest of 118 people suspected of using stolen card data to buy airline tickets, or using fake tickets, thanks to big data capabilities for combating crime.
Data analytics is reshaping the way financial institutions detect fraud by helping them track customer behavior in real time, says FICO's Anant Nambiar, who'll be a featured presenter at ISMG's Fraud Summit New York on Oct. 21.
Initial reports suggested that Russian hackers could behind an attack against JPMorgan Chase, and perhaps other U.S. banks. While it's still far from clear who the culprits are, experts discuss the potential hacking motivations of a nation-state.
Big data has been the recent buzz in security circles, but what are organizations missing by overlooking the power of "small data?" Verizon's Jay Jacobs discusses how to get the most from data analytics.
French IT services company Atos has announced its intention to purchase Bull, an enterprise data firm, to enhance its cybersecurity and big data offerings. The deal is worth $844 million, or 620 million euros.
Card breaches at retailers such as Target and Neiman Marcus will likely be catalysts for improved cyberthreat intelligence and information sharing across the banking and retail sectors, says Mike Braatz of ACI.
Most organizations, including banks, have more data than they know what to do with, says Allison Miller, a cyberthreat and data analytics expert. So why aren't they more effectively using big data analytics for fraud prevention and detection?
Two critical steps that banking institutions need to take in 2014 to help prevent fraud are implementing big data analytics and adopting far more sophisticated customer and employee authentication, says Gartner analyst Avivah Litan.