Mule Bank Accounts and Cybercrime:
 

1. Illegal Financial Transactions:

   • Used by cybercriminals for money laundering and fraud.

   • Misused to hide the real identity of the perpetrators.
      

2. Challenge to Banking Security:

   • Major threat to banks’ identification systems.

   • Financial fraud through fake or proxy accounts.
      

Role of AI:
 

1. Automated Detection and Prevention:

   • Use of Artificial Intelligence (AI) to detect suspicious transactions.

   • Helps banks in instantly blocking suspected mule accounts.
      

2. Data Analysis and Cybersecurity:

   • Analysis of banking data to identify fraudulent accounts.

   • Strengthens the cybersecurity infrastructure.
      

Future Strategy:
 

1. Developing AI-Based Systems:

   • Enhancing digital transaction security through AI-driven solutions.
      

2. Tight Surveillance on Cybercriminals:

   • Continuous monitoring and action against evolving cyber threats.