New Delhi, May 12 (APAC Media): The Indian Cyber Crime Coordination Centre (I4C) under the Ministry of Home Affairs and Reserve Bank Innovation Hub (RBIH) have signed a Memorandum of Understanding (MoU) to strengthen cooperation in tackling cyber-enabled financial frauds and identifying mule accounts across India’s banking and digital payments ecosystem.
The agreement focuses on fraud-risk intelligence sharing, analytical support, and operational coordination to improve proactive fraud detection and prevention mechanisms using artificial intelligence (AI).
Union Home Minister Amit Shah highlighted the initiative in a post on X, stating that the government is working towards a “cybersecure Bharat.” He said mule accounts remain a major challenge in curbing cybercrime and that the collaboration will use AI-powered systems to swiftly detect and eliminate hidden mule accounts.
AI-powered fraud detection
Under the MoU, I4C will share mule account-related intelligence and suspect identifiers from its Suspect Registry with RBIH. The data will be integrated into AI-driven fraud detection systems such as MuleHunter.ai, currently being implemented across banks.
RBIH will utilise the datasets to train and enhance fraud-risk assessment models aimed at improving the safety and resilience of India’s rapidly expanding digital payments ecosystem.
The MoU was signed by Roopa M, IG (Admin), I4C, and Sahil Kinni, CEO of RBIH, in the presence of RBI Deputy Governor Rohit Jain, MHA Special Secretary Anand Swaroop, Joint Secretary Rakesh Rathi, I4C CEO Rajesh Kumar, and other senior officials.
Strengthening India’s cybercrime response
I4C has been working to strengthen India’s cybercrime response infrastructure through initiatives such as the National Cybercrime Reporting Portal and intelligence-sharing mechanisms. RBIH, a wholly owned subsidiary of the Reserve Bank of India, has been promoting innovation-led financial security solutions to enhance trust in digital banking systems.
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