A mule account is a bank account used by criminals to move stolen money n Delhi Bureau & Agencies 

 

THE Government is planning to use Artificial Intelligence to identify ‘mule’ accounts where cyber fraudsters park swindled funds, Union Home Minister Amit Shah has said. Chairing a meeting of the Parliamentary Consultative Committee for the Ministry of Home Affairs on the topic of ‘Cyber Security and Cyber Crime’ on Tuesday, Shah also said that for national security reasons, 805 apps and 3,266 website links have been blocked based on the recommendations of the Indian Cybercrime Coordination Centre (I4C), the Government’s cybercrime monitoring and detection wing.

 

Additionally, he said, 399 banks and financial intermediaries have come on board, over six lakh suspicious data points have been shared, more than 19 lakh mule accounts have been caught, and suspicious transactions worth Rs 2,038 crore have been prevented. Shah said efforts are underway to use Artificial Intelligence (AI) for identifying mule accounts, in coordination with the Reserve Bank of India (RBI) and all banks to establish a system for their detection, an official statement said. The Home Minister said the Government will ensure the closure of mule accounts before they even become operational. A mule account is a bank account used by criminals to move stolen money.