RBI Tightens Oversight On Digital Fraud as AI flags over 20,000 mule accounts monthly.
India’s central bank is stepping up its campaign against digital fraud, deploying artificial-intelligence tools to track illicit money flows while urging citizens to remain cautious of schemes promising extraordinary returns.
As scam networks evolve, regulators are racing to tighten coordination across agencies and the banking system.
Speaking at the Delhi School of Economics, RBI Governor Sanjay Malhotra offered a candid assessment of the dangers posed by digital fraud.
He warned that scam operations are expanding into sophisticated networks that exploit weak points in the financial system — from dormant accounts to unsuspecting citizens pressured into acting as intermediaries.
Malhotra urged the public to stay vigilant, avoid sharing sensitive information such as OTPs, and resist high-return investment pitches.
He stated: “Customers should not be lured by schemes which promise huge returns.”
The fraud ecosystem is increasingly intertwined with social engineering tactics and rapid, anonymized movement of money.
To confront this, the RBI launched MuleHunter.ai last year — an artificial-intelligence and machine-learning tool developed by the Reserve Bank Innovation Hub.
The system now identifies roughly 20,000 suspected mule accounts every month.
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