What is Mulehunter.Ai, the AI tool RBI is promoting to detect and flag accounts used for financial fraud

The Reserve Bank Innovation Hub is promoting an AI tool, Mulehunter.Ai, to identify mule accounts used for money laundering. So far, two major public sector banks have implemented it, with ten more in discussions. According to RBIH CEO Rajesh Bansal, the AI tool offers higher accuracy and efficiency compared to traditional methods.