In a drive to curb cyber-enabled financial frauds, the Indian Cyber Crime Coordination Centre (I4C), under the Ministry of Home Affairs has signed a Memorandum of Understanding (MoU) with the Reserve Bank Innovation Hub (RBIH) to strengthen coordination across India’s banking and digital payments ecosystem.
As part of the MoU, the I4C will share intelligence related to suspected mule accounts through its Suspect Registry, which will be integrated into AI-driven fraud detection systems such as MuleHunter.ai deployed across banks. The RBIH will use these datasets to train and enhance fraud-risk assessment models, enabling more proactive detection and prevention of suspicious transactions.
Officials said the integration of real-time intelligence with AI tools is expected to significantly improve early warning systems and reduce financial fraud losses. The move also aims to strengthen trust in India’s rapidly expanding digital payments ecosystem.
The collaboration aims to enhance fraud-risk intelligence sharing, analytical support, and operational coordination, with a particular focus on identifying and eliminating mule accounts — a key enabler of cyber fraud.
Announcing the development, Union Home Minister Amit Shah said on Tuesday that the initiative reflects the government’s commitment to building a “cyber secure Bharat”. In a post on X, Shah highlighted that mule accounts remain a major challenge in tackling cybercrime and noted that the partnership would leverage artificial intelligence to detect and dismantle such accounts swiftly.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.
