Amit Shah calls it ‘next-gen shield’
NEW DELHI: The Indian Cyber Crime Coordination Centre (I4C) under the Ministry of Home Affairs on Tuesday signed a Memorandum of Understanding with the Reserve Bank Innovation Hub (RBIH) to deploy artificial intelligence-driven systems for detecting and eliminating mule accounts across India’s banking and digital payments ecosystem. Union Home Minister Amit Shah hailed it as a major technology-driven push against cyber fraud.
Calling mule accounts a “big hurdle” in tackling cybercrime, Shah said the collaboration would use AI-powered fraud detection systems linked to I4C’s suspect registry to identify hidden fraudulent accounts and strengthen protection for citizens in the digital banking ecosystem.
In a post on X, Shah said the Modi government was “tirelessly working for cyber-secure Bharat” and termed the initiative as a next-generation shield against cybercrime.
The MoU was signed by Roopa M, IG (Admin), I4C and Sahil Kinni, CEO, RBIH in the presence of Rohit Jain, Deputy Governor, RBI; Anand Swaroop, Special Secretary (Internal Security), MHA; Rakesh Rathi, Joint Secretary (Cyber and Information Security), MHA; Rajesh Kumar, CEO, I4C; and other senior officers from RBI, RBIH and I4C.
According to officials, the agreement aims to strengthen coordination in combating cyber-enabled financial fraud and dismantling mule account networks operating across the banking and digital payments ecosystem.
Under the arrangement, I4C will share suspect identifiers and mule account-related intelligence from its national suspect registry with RBIH’s AI-based fraud detection systems, including MuleHunter.ai™.
The AI-driven platform will analyse suspicious transaction patterns and account behaviour to help banks rapidly identify fraudulent accounts used for cybercrime, money laundering and digital payment scams.
Officials said the integration of I4C data with AI systems would significantly improve fraud-risk assessment and enable faster preventive action by financial institutions.
I4C has been expanding India’s cybercrime response framework through platforms such as the National Cybercrime Reporting Portal, the suspect registry and intelligence-sharing mechanisms between agencies.
The centre has emerged as a key coordinating body for cybercrime investigations, financial fraud tracking and digital threat intelligence under the Ministry of Home Affairs.
RBIH, a wholly owned subsidiary of the Reserve Bank of India, has been working on technology-led innovation in the financial sector, particularly in AI-powered fraud prevention systems.
The data shared under the agreement would be used to train and enhance AI fraud detection models such as MuleHunter.ai™, aimed at strengthening the safety and resilience of India’s rapidly expanding digital payments ecosystem.
The collaboration is expected to improve proactive fraud detection capabilities and increase public trust in digital banking and online financial transactions.
Agencies