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Digital arrest: How India’s fastest-growing scam uses fake investigations and video calls to siphon off croresThey pose as the police, put you under ‘digital arrest’, and tether you to a video call till your savings are gone. How India’s fastest gro...- India to use AI to protect consumers from money mule banking cyber fraud, announces Home Minister Amit ShahIndia will now use Artificial Intelligence to fight money mule banking cyber fraud. The Home Minister announced a partnership between the I...
- Hyderabad cops want RBI to plug gaps that facilitate cybercrimeHyderabad Police's crackdown on cyber fraud, revealing systemic banking gaps and Rs 400 crore annual losses, has prompted a high-level meet...
- FinMin asks banks to adopt MuleHunter AI tool of RBI to check cyber fraudsFinancial Services Secretary M Nagaraju urged banks to adopt the RBI's MuleHunter AI tool to combat financial cyber frauds and mule account...
- RBI acts on fraud: Customers to get up to Rs 25,000 compensation for losses incurred in small value fraudulent transactions, announces RBIBank customers who fall victim to small value financial fraud can now receive compensation. The Reserve Bank of India announced this new po...
- Financial Services secretary flags digital risks, says AI key to tackling mule accountsThe central bank has introduced initiatives such as MuleHunter.ai to combat mule accounts used for fraudulent transactions. The AI tool del...
- RBI deputy governor pitches for collaboration to deal with fraudsT Rabi Sankar said collaboration between banks and central bank owned Reserve Bank Innovation Hub (RBIH) will both quicken and enhance the ...
- RBI to issue instructions to prevent mis-selling of financial productsThe Reserve Bank of India will soon release new rules for financial institutions. These guidelines aim to stop the mis-selling of financial...
- Mule Hunter tool to check digital fraud is showing good success rate: RBI Governor Sanjay MalhotraRBI Governor Sanjay Malhotra said the central bank’s AI-driven MuleHunter tool is detecting around 20,000 mule accounts each month and is s...
- SBI and Bank of Baroda to launch Indian digital payment intelligence corporation to combat fraudIndia's largest banks, SBI and Bank of Baroda, are spearheading a new digital payments intelligence platform. This initiative aims to detec...
- AI promises efficiency and inclusion but needs strong oversight: RBI Dy Governor SankarReserve Bank of India Deputy Governor T Rabi Sankar highlighted AI's transformative power and its inherent risks. Speaking at the Global Fi...
- "AI carries dual narrative… if left unattended, it could pose unprecedented threats", warns RBI Deputy Governor T Rabi SankarReserve Bank of India Deputy Governor T Rabi Sankar warned at the Global Fintech Fest 2025 that while AI offers immense financial sector be...
- Banks step up checks on deposit accounts to thwart mulesBanks are grappling with a surge in fraud linked to deposit accounts, surpassing loan accounts in risk. The rise of mule accounts used for ...
- Bank frauds in India have tripled and they need a sensible responseBank frauds in India have tripled. Payment scams are increasing rapidly. Digital transactions account for more than half of all frauds. The...
- RBI governor rules out rupee targeting, focuses on volatility controlRBI Governor Sanjay Malhotra announced a review of bank licensing and insurance product distribution to address mis-selling concerns and st...
- Plan in works to catch 'mule' accounts in real timeTo combat financial fraud, the government is collaborating with banks to develop a real-time due diligence process for identifying 'mule' a...
- RBI policy acts big on banking frauds: New AI tool MuleHunter.ai by RBI to help reduce digital fraudsReserve Bank of India: The RBI innovation hub in Bengaluru has developed a new artificial intelligence based system to reduce digital fraud...
- Banks to use AI & machine learning to safeguard customers from financial fraudsIn a significant move to address the growing menace of digital financial frauds, the Department of Financial Services (DFS) has directed ba...
- Use MuleHunter.AI to check digital fraud: Govt to banksThe government urged banks to enhance their fight against mule accounts used in financial fraud. Banks were advised to implement AI/ML solu...
- Finmin asks banks to use MuleHunterAI to check digital fraudThe Finance Ministry and RBI are urging banks to adopt AI tools, including the RBI-developed MuleHunterAI, to combat rising financial fraud...
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