MuleHunter.AI: Combating the Issue of Mule Accounts
On 6th December 2024, the Reserve Bank of India (RBI) announced that it has created an AI-powered model called MuleHunter.AI, which could reduce digital fraud by helping banks deal with the increasing problem of “mule” accounts.
About MuleHunter.AI
Developed By: Reserve Bank Innovation Hub (RBIH), Bengaluru.
Mode of Working
- AI/ML-based Solution: RBIH developed this in-house AI/ML-based solution which is better suited than a rule-based system to identify suspected mule accounts.
- 19 Distinct Patterns: The system was developed after 19 distinct patterns of mule account activity were analysed in collaboration with multiple banks.
- Machine Learning: MuleHunter.AI uses machine learning to quickly and accurately ....
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