New Delhi, Nov 20 (PTI) Reserve Bank Governor Sanjay Malhotra on Thursday said the Mule Hunter tool launched to check digital fraud is showing a good success rate.

MuleHunter.ai, an AI-enabled tool designed by the Reserve Bank Innovation Hub (RBIH) to flag mule accounts, is detecting about 20,000 mule accounts every month.

Mule accounts are intermediary in the movement of fraudulent funds. It helps in channelling and siphoning off fraudulent money.

Last year, the RBI launched an Artificial Intelligence (AI) and Machine Learning (ML) based model, namely MuleHunter, to prevent and mitigate digital fraud through the use of mule accounts.

“So, we had our intermediate milestone of 20 banks to adopt it. We are quite near it. It is in the high double digits. Over there, we are well on target

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