IDPIC Real-Time Risk Scores for Deposits: Mule Account Curbs
Why in the news
The head of IDPIC said deposits in digital form would soon get live risk scores, much as loans carry credit scores, to choke the flow of cyber-fraud money through mule accounts.
Key facts
- Announced by: K. Satyanarayana Raju, MD and CEO of the Indian Digital Payment Intelligence Corporation (IDPIC).
- Origin: project conceived by the RBI Innovation Hub (RBIH), a wholly-owned RBI subsidiary.
- Mule accounts: existing bank accounts used to park or route money from digital arrests, impersonation and investment scams.
- IDPIC will be the nodal organisation maintaining the registry and connecting banks.
Project phases
| Phase | Component | Function |
|---|---|---|
| Phase 1 | MuleHunter.AI | Detect mule accounts; build a suspects registry used by all banks |
| Phase 2 | Real-time risk scoring | Score digital deposits instantly so suspicious flows are flagged early |
How the registry works
- A bank spots a mule account from suspicious transaction patterns.
- The details enter a shared registry run by IDPIC.
- Other banks check new account applicants against it.
- A match triggers enhanced due diligence.
Fraud data
| Measure (FY22 to Sept 2025, Lok Sabha data) | Figure |
|---|---|
| Payment frauds reported by banks | 5.83 lakh |
| Amount involved | ₹3,588 crore |
| Amount recovered | ₹239 crore (about 6.7%) |
Fraud is concentrated in internet banking and in credit and debit cards.
Significance
- Every scam finally moves money through some account, so flagging those accounts hits the choke point.
- Scoring in real time lets banks step in mid-transaction instead of after funds pass through layers of accounts.
- Fits the DPI idea: Aadhaar gives identity, UPI payments, Account Aggregator data, and IDPIC is meant to offer fraud intelligence.
Background
- RBIH: created in 2022, based in Bengaluru, to promote innovation in the financial sector.
- I4C: under the Ministry of Home Affairs; runs CFCFRMS and helpline 1930.
- FIU-IND: national agency for suspicious transaction information, under the Ministry of Finance.
- KYC: identity checks that support the PMLA, 2002.
Exam angle
- Phase 1 tool: MuleHunter.AI, developed by RBIH.
- Number of banks integrated: six (4 public, 2 private).
- Concept: DPI for risk, suspects registry, enhanced due diligence.