More companies today are using IT systems to store and manage enormous business data pouring out of the burgeoning communication channels. As more business components and the real world environments embrace digital technologies, fraudsters too are becoming IT-savvy.
In the wake of these developments where a fraud can be hidden in large volumes of data, manual checks to detect threats doesn’t result in fruitful business outcomes. The financial institutions, in particular, are investing heavily to prevent fraudulent attacks in the wake of increased threat to user data. The advancements in technology are helping security professionals to adopt smart ways to detect fraudulent activities.