AI will help fight cybercrimes in Indian banking sector, here is how
Follow UsIndia will use AI to detect suspicious bank accounts linked to cyber fraud.
The new system will help banks find risky transactions faster and improve security.
Officials say better teamwork between banks and cyber teams will help reduce online scams.
India has taken a new step to fight rising cyber fraud by using artificial intelligence to find and stop mule bank accounts. These accounts are often used by criminals to move stolen money and hide their identity. The government said the system will work by combining data from the Indian Cyber Crime Coordination Centre under the Ministry of Home Affairs with tools built by the Reserve Bank Innovation Hub. Union Home Minister Amit Shah announced on Tuesday that the Indian government will now use AI to help banks spot risky accounts faster and protect people from online scams. Officials believe this will make it harder for fraudsters to misuse the banking system and improve safety. Here’s everything you need to know about how the Indian government will be using AI to make India cyber-secured.
SurveyAI system to detect mule bank accounts
The government has launched a plan to use artificial intelligence to track mule bank accounts that are used in cyber fraud. The system will connect data from the Indian Cyber Crime Coordination Centre and the Reserve Bank Innovation Hub to find suspicious banking activity in real time. Officials said the goal is to stop criminals from moving stolen money through fake or misused accounts.
Union Home Minister Amit Shah said the system will act as a strong shield for citizens and help banks act quickly. By studying patterns of transactions, the tool will flag accounts that look risky and send alerts to banks for action. This is expected to reduce delays in catching fraud and improve response time across financial institutions in India. We may also see stronger coordination between banks and cyber teams going forward in the coming months ahead.
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Global warnings and policy response
Global financial bodies have warned about risks from fast-growing artificial intelligence. The International Monetary Fund says AI can help detect fraud but can also be used by criminals to find software weaknesses. In India, Finance Minister Nirmala Sitharaman has met banking leaders and experts to review these risks. She has asked the Indian Banks Association to create a coordinated response system for cyber threats. Officials say banks, regulators, and cybersecurity teams must work together.
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Experts have warned that cyber fraud is getting more advanced, so India needs regular security upgrades to protect users and trust in digital banking.
However, the authorities clarified that the government is all set to take new measures that will be aimed at making digital payments and innovation more secure against cyberattacks.
