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IBM launches Red Cell big data fraud squad

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IBM has launched a new technology and services push to help big businesses tackle fraud issues using big data.


Using its existing big data analytics technology and with the creation of new teams and software packages, the firm hopes to attract the world's most high-risk industries to its portfolio.


The tech industry has been exploring and marketing big data-based security for several years, but IBM's latest effort is to specifically target fraud.


The firm has launched new Counter Fraud Management software, which uses historical and current data from internal and external sources to identify potentially suspicious activity. Consulting services for counter fraud are now also available, intended to evaluate a business's strategy and work towards deploying IBM's own software and services.


Big Blue has also created a new 'intelligence task force' called IBM Red Cell, which will work alongside the pre-existing IBM X-Force unit to research the latest tactics in use by fraudsters.


IBM will also initially offer packages to help detect particular types of fraud in specific industries, using its SoftLayer cloud services to analyse a business's behaviour and potential risks.


The targeted areas include medical fraud, insurance fraud, tax fraud and occupational fraud.


IBM's vice president of Counter Fraud Solutions Robert Griffin said businesses would now be able to respond more effectively to potentially fraudulent situations.


'With today's news IBM is applying many of the same tactics, techniques and procedures used by the intelligence and law enforcement communities to help commercial organisations take a holistic view of this growing and pervasive threat,' he said.


'These technologies allow organisations 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 organisations from financial losses, protecting the brand and delivering exceptional customer service.'


Last month, analyst firm Gartner insisted that big data-based security was now 'too big to ignore', with only eight percent of firms today using the technology to stay secure.


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