5/7/2024, 3:08:03 pm

Mule: When random bank accounts of daily wage labourers receive windfalls!

RBI Governor Shaktikanta Das met with top public and private bank leaders to address the issue of "mule accounts" used for money laundering and fraud. He urged banks to increase customer awareness and education to prevent digital frauds. Recent cases of massive bank transfers to unsuspecting individuals include ₹9,900 crore, ₹221 crore, ₹4 crore, ₹1.84 crore, and ₹100 crore.