AI Could Detect Mule Accounts in Under a Minute: Maharashtra Cyber Cell
Artificial intelligence could help financial institutions identify money mule activity in less than a minute, as suspicious transaction patterns are often markedly different from those of genuine account holders, said Yashasvi Yadav, ADG, Cyber Cell, Maharashtra Police on the sidelines of The RealX Box event on real estate tokenization. The launch marked the introduction of RealX REDbox and Whitebox, powered by MST Blockchain, bringing together the legal, marketplace and blockchain infrastructure required to build tokenised asset platforms on Indian rails.
Money mule accounts are typically used to receive and move funds linked to fraudulent or illicit activities. According to Yadav, the transaction behaviour associated with such accounts can provide clear signals for AI-driven systems to identify potential risks in near real time.
“Money mule activity can be identified and addressed very easily and seamlessly with the latest AI technologies because the pattern of a money mule is very distinct and...
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