IBM and others see big profits in preventing financial and healthcare fraud

IBM has announced the creation of a fraud and financial crimes prevention business combining big data analytics, business acumen and data visualization.  The global market for financial fraud detection well exceeds $8 billion per year and that is growing quickly.

Hackers penetrated many major computer systems last year to the tune of millions.

Novetta Solutions is a company known for government defense work now provides companies with cyberdefenses including behavioral analysis.

IBM will initially focus on banking, insurance and health care but given that the threats are broad based, the new programs will include protections for other industries.

Jeffrey Newman represents whistleblowers.