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Finance Ministry Pushes Banks to Implement MuleHunter AI System Quickly
The Ministry of Finance has directed all banks to adopt the 'MuleHunter AI' system to prevent cyber fraud. This system, developed by the RBI Innovation Hub, identifies fake accounts and tracks transactions in real-time.
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“Finance Ministry Pushes Banks to Implement MuleHunter AI System Quickly”
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en.sangritimes.com/s/77c59b
2 May 2026
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.
