How Do The Intersections Of Big Data And The Internet And Social Networks Mitigate Or Exacerbate Internet Fraud Risks

How Do The Intersections Of Big Data And The Internet And Social Networks Mitigate Or Exacerbate Internet Fraud Risks

Length: 965 words (2.8 double-spaced pages)

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Arpitha Ramachandraiah
UB # 50166499

If there is one invention in the 20th century that has had tremendous influence in the world, it has to be the internet. Around 40% of the world population use the internet with an estimated 3 billion people who go online every day. The widespread use of internet and the advent of social media has changed the way we communicate on a global scale. Social networking is no longer restricted to folks living close to home or office, but it has gone global. These sites offer a platform for people to connect with others – to share views, news, knowledge and ideas, and also to build friendships, in virtual communities and networks irrespective of their geographical location. There are many social networking sites like Pin Interest, Instagram, and Google+ that allows its users to share interests, photos and other information, but the giants of social media are Facebook and Twitter. While Facebook enables its users to create a more personal profile of themselves, join groups of people having similar interests, and allow them to share updates including news, photos and stories - with family, friends and colleagues; Twitter allows its users to ‘follow’ other people including celebrities, politicians, organizations and post short messages or ‘tweets’.
These technological advancements and the sheer number of internet and social media users, along with the other person information available with banks and product companies has led to accumulation of humongous volume of information resulting in a massive data deluge that is known as “big data”. A massive amount of data is being collect...

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...h can be used to thwart cyber-crime. With hackers equipping themselves with sophisticated tools, it is a boon to have a technology that gives us and ability to respond to threats in short amounts of time. Such as system is tremendously useful to avoid loss of data, money and reputation that is often the target of these crimes. Social network analytics can be used in conjunction with cyber analytics to identify the risk patterns in the social media website and take appropriate actions against fake profiles, malware and social media botnets injected into the system by cyber criminals.
To conclude, it can be said that cyber threat will continue to haunt individuals and organizations as hackers continue to devise newer methods to break into the security system, but technologies such as big data can be leveraged by social media and organizations to stay ahead of the game.

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