Indian Govt Pushes Banks to Adopt 'MuleHunter' AI to Combat Cyber Frauds

• Indian government urges all banks to adopt RBI's 'MuleHunter' AI to tackle rising cyber frauds.
• Union Minister Amit Shah advocates for full adoption of the AI tool to protect victims.
• MuleHunter AI, developed by Reserve Bank Innovation Hub (RBIH), detects mule accounts used for money laundering and cyber fraud.
• The AI software identifies mule accounts by analyzing account activities and patterns using trained datasets.
• RBI Governor previously stated MuleHunter AI detects 20,000 mule accounts monthly; Shah aims to significantly increase this number.