By Admin 
With the increasing scope of digital payments in the country, cases of cyber fraud are also increasing rapidly. The hard earned money of common people is reaching the fraudsters through fake bank accounts. In view of this danger, the central government is now emphasizing on implementing a special AI tool in banks. Home Minister Amit Shah has appealed to all banks to adopt Mule Account Hunter i.e. MuleHunter.ai. In an event organized in Delhi, Amit Shah said that cyber security is no longer just a financial matter but a matter of national security. He said that every second digital transaction taking place in the world is taking place in India. In such a situation, it is very important to strengthen the banking system. In such a situation, let us now tell you how Mule Account Hunter will protect you from cyber fraud, which Amit Shah is insisting on using.
What is Mule Hunter?
Mule Hunter is an AI-based software, which has been developed by the Reserve Bank Innovation Hub in collaboration with the Central Government. Its objective is to identify such bank accounts which are used for cyber fraud and money laundering. This tool was announced in December 2024. This system works with the help of machine learning technology. It continuously monitors the transaction patterns of bank accounts and immediately flags suspicious activities. It has been claimed that with the help of this tool, about 20 thousand suspicious or fake accounts are being identified every month.
What are mule accounts?
Mule accounts are such bank accounts which are used by cyber criminals to transfer fraudulent money here and there. Many times these accounts are opened on fake documents, and in many cases people unknowingly give their accounts on rent. In fact, fraudsters do not ask for money directly in their accounts, rather they make tracking difficult by moving the money through such accounts. In many cases, people’s bank accounts are used by luring them with higher earnings or work from home. Later these accounts become a link to cyber fraud.
How does this system work?
Mule Hunter has been trained on large data sets. It analyzes account activities and transaction patterns. At the same time, by differentiating between the behavior of normal accounts and suspicious accounts, the system identifies the signals which are usually seen in mule accounts. As soon as any abnormal activity is detected, the bank gets an alert so that timely action can be taken. Apart from this, the government believes that if all public, private and cooperative banks adopt this tool, then the large network of mule accounts can be broken. Regarding this, the Home Minister informed that out of the thousands and crores of rupees stolen in cyber fraud, a large amount has been frozen. The investigating agency has canceled lakhs of SIM cards, mobile IMEIs have been blocked and thousands of people have been arrested. The Home Minister also informed that by December 2026, banks and financial institutions will be linked to the Indian Cyber Crime Coordination Center framework so that united and swift action can be taken against cyber crime.
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