IBM today announced a “Smarter counter fraud” initiative, which is intended to fight crime with new “Big Data” software that will let organizations tap into mobile, social, and Internet data to locate sketchy behavior and stop fraud before it happens.
IBM’s “Big Data” software will pick up “non-obvious relationships” and links between entities. 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.
The new software and services include:
- Counter fraud management software: The combination of IBM’s Big Data and analytics capabilities will “help organizations aggregate data from external and internal sources and apply sophisticated analytics to prevent, identify and investigate suspicious activity,” according to the company.
- The evaluation of an organization’s counter fraud capabilities to improve enterprise-wide protection.
- The construction of organization models and technology architecture to better detect fraud, and respond and investigate exposures.
- Custom counter fraud programs that are scalable.
- IBM’s counter fraud intelligence task force, “Red Cell,” which will research trends, develop strategies and improve the software as new threats emerge.
- Fraud discovery assets: Customizable assets that use analytics to discover fraud, waste, abuse and errors in systems. These assets focus on medical fraud, insurance claim fraud, tax fraud and occupational fraud.