Shah for use of AI to combat cyber fraud, mule accounts

Union Home Minister Amit Shah on Tuesday said the government is mulling to use Artificial Intelligence to identify ‘mule’ accounts where cyber fraudsters park swindled funds.

While chairing a meeting of the Parliamentary Consultative Committee on Cyber Security and Cyber Crime, Shah stated, “Efforts are underway to use AI for identifying mule accounts, in coordination with the Reserve Bank of India and all banks. A system is being developed to detect and close mule accounts before they are even operational.”