Quantifying the fiscal ramifications of big data integration in service organisations: Mitigation of financial malfeasance

This chapter undertakes a thorough and sophisticated exploration of the intricate and perpetually evolving landscape of big data utilisation in the realm of fraud mitigation within the financial services industry. It rigorously evaluates the transformative capacities of big data analytics in addressing the increasingly elaborate nature of fraudulent activities, with particular focus on the imperative issues of data privacy, security, regulatory conformity and scalability. Through an exhaustive and detailed analysis, the chapter illuminates the critical significance of advanced technological frameworks, including artificial intelligence, machine learning, blockchain and the Internet of Things, in enhancing the efficacy of fraud detection and prevention. The discourse further delves into the essential roles played by behavioural analytics, anomaly detection and real- time processing systems in the identification and curtailment of fraudulent actions.