Mule bank accounts, which the government will use AI to track

 

What is Mule Account

Mule accounts are bank accounts that cyber criminals use to transfer fraudulent funds. In simple terms, cyber criminals do not transfer the money defrauded from common people to their accounts. 

They will first transfer this money to a mule account. After this they transfer that money to different bank accounts. This entire process works like a chain, which makes it difficult to track the fraudulent money. 

Home Minister Amit Shah has talked about using AI to track mule accounts. He gave this information in a meeting held on Monday. Mule accounts are used by cyber criminals to transfer fraudulent money. By tracking these accounts, the activity of cyber criminals can be stopped.

The government is planning to use AI to identify mule accounts used in cyber fraud. Home minister Amit Shah has given this information. The considering taking this step to stop the ever increasing cases of cyber frauds.

He said that 805 apps and 3,266 website links have been blocked on the recommendations of the Indian Cyber ​​Crime Coordination Center (I4C). Apart from this, 399 banks and financial institutions participated in it and more than 6 lakh suspicious data points have been shared. The Home Minister said that more than 19 lakh Mule accounts have been identified and suspicious transactions worth Rs 2,038 crore have been stopped.

AI will identify mule accounts

The Home minister said that AI will be used to identify mule accounts in coordination with RBI and other banks. A system will be established for this. Shah said that the government will ensure that Mule accounts are closed before they are activated. The Home Minister said that a total of 1,43,000 FIRs have been registered on the I4C portal, which has benefited more than 19 crore people. Keeping in mind the crimes related to cyber fraud, '1930' helpline has been issued, on which people can complain. 

How to avoid cyber fraud

Scammers use many methods to trap people. The best option to avoid this is for users to be aware. If you remain alert, cyber criminals will not be able to make you their victim. You should not share your personal details with any unknown person. 

Do not click on any unknown link. Avoid following investment tips received through WhatsApp, Telegram, Instagram or any on social media platform. It would be better if you take advice from an expert to invest your hard earned money. If you get a call from an unknown number in the name of Police, If you receive a call in the name of TRAI or any other government official, do not trust it. Such people can be cyber criminals, who will cheat you in the name of digital arrest. Also aware that banks never ask for OTP, so don't share your otp with anyone.

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