What is MuleHunter.AI? RBI’s latest tool against financial fraud explained

The Reserve Bank of India’s (RBI) dedicated innovation unit, Reserve Bank Innovation Hub (RBIH) is making progress in combating financial fraud by promoting the use of MuleHunter.AI, an advanced artificial intelligence tool. This technology specialises in detecting and flagging mule accounts, which are often exploited for money laundering activities.

The tool has been successfully piloted in two public sector banks. According to the National Crime Records Bureau (NCRB), online financial frauds account for 67.8 per cent of cybercrime complaints, highlighting the critical need for effective AI-based fraud prevention solutions.