Big Data for Fraud Detection

Zions Bank Fraud Expert Previews Conference Panel
Intrusion detection is challenging for most organizations, and hackers' ever-increasing skill to evade monitoring tools only compounds the problem. But Zions Bank's Michael Fowkes says big data can help.

Big data opens new doors for cyberthreat mitigation, attack detection and fraud prevention, says Fowkes, senior vice president of fraud prevention and security for Zions.

At RSA Conference 2013, Fowkes, along with Jeremiah Grossman of WhiteHat Security and Laz Lazarikos of a Fortune 100 Retailer, will address how organizations can use big data to improve security.

The Feb. 28 session, "Just In Time Security: Difficulty of Being Proactive in Cyber Environments," will be moderated by Laura Mather, co-founder and chief visionary of online security specialist Silver Tail Systems.

Any organization interested in learning more about intrusion prevention systems and intrusion detection systems should benefit from the discussion, Fowkes says.

"I don't believe the challenges that are faced by financial institutions are unique to us," he says. "We're all experiencing the same problems. The criminals are looking for weaknesses to exploit," regardless of the industry.

While the number of cyberattacks continues to increase, big data analytics improve detection, Fowkes says. "We are in supposed era of big data, and there are a lot of tools out there that we can create," he says. "All three of us on the panel have detection tools and experience in being able to detect things in a faster fashion," on a daily basis.

During this interview, Fowkes discusses:

  • Why more innovation is needed in fraud detection and prevention;
  • The increasing need for ongoing and real-time risk assessment;
  • Differing industry perspectives that affect big data.

At Zions Bancorp, Fowkes is responsible for driving the strategy of the bank's security data warehouse, which also involves the oversight of the security analytics and fraud prevention departments. Fowkes has 15 years' experience in audit, information security and fraud, including more than eight years of experience in working with big data security.

Additional Summit Insight:
Hear from more industry influencers, earn CPE credits, and network with leaders of technology at our global events. Learn more at our Fraud & Breach Prevention Events site.

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