News > New AI tool MuleHunter.ai by RBI to help reduce digital frauds
New AI tool MuleHunter.ai by RBI to help reduce digital frauds

ET CISO | 13/12/2024 01:23 PM | Click to read full article
The Reserve Bank is currently running a hackathon on the theme “Zero Financial Frauds” which encourages development of innovative solutions to contain the use of mule accounts. Another initiative in this direction is the AI / ML based model called MuleHunter.AI, by Reserve Bank Innovation Hub (RBIH), which enables the detection of mule bank accounts efficiently. A pilot with two large public sector banks has yielded encouraging results.