The big data portent is a direct result of the digitization and “datafication” of every activity in personal, public, and commercial life. The major downside is loss of data privacy- Online and offline actions are being stalked, aggregated and explored at dizzying rates. Flipkart E-book can know the details of books you ever bought or viewed by evaluating big data gathered over the years. The NSA (National Security Agency) can track the phone number that you ever dialed. With the arrival of many digital modalities all these data has grown into BIG data and is still on the upswing. Eventually Big Data technologies can exist to provide greater insights in business decision making faster when needed but with the snag of loss of data privacy. In this talk the big data security issues and the extent of financial fraud is discussed.