MuleHunter.AI
MuleHunter.AI, developed by the Reserve Bank Innovation Hub (RBIH), is an AI-powered tool to detect and combat financial fraud. It targets mule accounts, which are used to transfer stolen or illegal funds. Traditional fraud detection methods often miss patterns, prompting the RBIH to identify 19 distinct behaviors of mule accounts. MuleHunter.AI enhances fraud detection through machine learning, improving accuracy and processing speed. This innovation addresses the growing issue of online financial fraud, which accounts for 67.8% of cybercrime complaints, and supports a safer financial ecosystem.
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