Financial institutions must ask themselves: Do we need, and are we using, all the data we collect? As more data is collected, institutions should consider more and better ways to use that data. Verizon, in its latest Data Breach Investigations Report, finds most organizations get overwhelmed with too much data. The more data banks can leverage about new accountholders, the better their chances are of detecting fraud, Experian says. If more data can improve fraud detection and prevention, by all, they should take advantage of it.”]
Source: https://www.cuinfosecurity.com/blogs/big-data-for-fraud-prevention-p-1270