NEW DELHI, May 12: Union Home Minister Amit Shah on Tuesday announced that the country’s anti-cyber crime agency I4C signed an MoU with Reserve Bank Innovation Hub (RBIH) to curb the menace of mule accounts used by cyber criminals to cheat gullible victims.
In a message posted on X, he said mule accounts are big hurdles in curbing cyber crimes.
“Today, the I4C under MHA signed an MoU with Reserve Bank Innovation Hub (RBIH) unleashing the power of Artificial Intelligence to combat cyber fraud. The move will swiftly detect and cull hidden mule accounts by feeding the data from the I4C’s Suspect Registry to the AI-driven fraud detection system and serve the citizens as their next gen shield against cyber crime,” Shah said.
Mule accounts are bank accounts used by criminals to illegally receive, transfer and launder the proceeds of cybercrimes with or without the knowledge of account holders. (Agencies)
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