To curb the problem of online fraud, the Department of Economic Affairs at the Finance Ministry has instructed all banks to immediately adopt MuleHunter.AI.

The RBI Innovation Hub has come up with MuleHunter.AI. Up till 2026, around a dozen banks had adopted MuleHunter but had yet to implement it. Research shows that the MuleHunter AI Platform could detect the mule accounts with up to 90% accuracy.

At present, manual monitoring of these mule accounts is quite difficult, and even when that is done, there are instances where it is difficult to keep the cyber criminals away from using the mule accounts. These criminals seek payments from accounts that aren't very active.

MuleHunter AI tracks transactions in real time. It is capable of detecting fraud by observing transaction patterns across millions of accounts. During the development of MuleHunter AI, it was discovered that cybercriminals primarily transact in mule accounts at night, especially between 11 pm and 1 am.

This was taken into account, and MuleHunter AI pays special attention to transactions during this time. Manually monitoring these transactions during this time is often unobservable. MuleHunter AI is provided free of charge by the RBI Innovation Hub.

However, to track MuleHunter accounts and, through this, completely eliminate cybercrime, the RBI is also considering implementing an alert system in accounts. This means that if a certain amount exceeds a certain limit, the bank will receive an alert about that account. RBI has just issued a draft in this regard.