While opening new accounts, banks can check if the name appears in any mule data. In case it does, the bank can conduct enhanced due diligence.
Gujarat police have uncovered cyber frauds worth Rs 2,289 crore and arrested 638 individuals as part of 'Operation Mule Account 1.0', a state-wide crackdown on online criminals launched in 2025.
It will enable real-time intel sharing among banks and other financial sector participants to strengthen customer protection against digital fraud.
