Can AI be a Solution to Fake Accounts? RBI to Roll Out AI Verification After Mule Accounts Uncovered Nationwide
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Summary
The Reserve Bank of India is preparing to implement mandatory AI-based verification of bank accounts to combat online fraud and mule accounts. A pilot project with one bank already identified 1.3 mill...
Key Details
Published
21 August 2025 at 04:00 pm
Source
The 420
Channel
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Victim Profile
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Amount Loss Range
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Fraud Keywords
mule accountsbank account verificationforged documentstransaction pattern analysiscyber-enabled financial fraudbanking fraudidentity theftai verification system