In one example embodiment, a fluid induced instability detection system is provided that monitors various vibration characteristics of a turbomachine, collects vibration data in real-time, and uses the vibration data to detect and analyze changes in various operating parameters such as vibration, speed, and loading conditions, and to provide an indication of a vibration anomaly and/or potential operational risk in one or more components of the turbomachine. The vibration data can be particularly associated with certain components that are directly or indirectly impacted by a modification in process fluid flow characteristics or lubrication oil flow characteristics in the turbomachine due to various reasons such as process fluid flow disturbances, lubricating oil flow disturbances, and/or a change in turbomachine operational parameters. The fluid induced instability detection system detects abnormalities in the vibration data and provides an indication of one or more potential faults in the turbomachine.