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IBM move to screen fraudulent bank accounts

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  16 Dec 2017 12:00 AM GMT

Fraudulent bank accounts are a major problem, with many people reporting loss of large sums of money to miscreants. It is a challenge for banks to establish if the person who is opening an account is genuine or a cyber crimil, especially since most of the information such as me, date of birth, address is publicly available.

Now, a technology developed by IBM will help banks identify fraudulent accounts before they are opened. It taps into the power of machine learning and alytics to make sense of data like the IP address of where the account is created, relocation, the device used, and helps banks establish the identity o the person.

The technology developed by IBM is, no doubt, an important technique which will help to identify fraudulent bank accounts. We hope, customers now will be able to open their accounts freely in banks.

Satish Kumar Sarma,

Kalyanpur,

Biswath Chariali.

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