Banks told to plug mule accounts to protect digital payments
New Delhi, Feb 10: Union Home Minister and Minister of Cooperation Amit Shah on Tuesday said cybercrime has emerged as a serious threat to national security and requires coordinated, real-time action across government agencies, banks and technology platforms.
Delivering the keynote address at the National Conference on “Tackling Cyber-Enabled Frauds & Dismantling the Ecosystem” in New Delhi, Shah inaugurated the Central Bureau of Investigation’s (CBI) new Cybercrime Branch and launched the State Cyber Crime Coordination Centre (S4C) dashboard of the Indian Cyber Crime Coordination Centre (I4C).
Senior officials including the Union Home Secretary, Directors of the CBI and Intelligence Bureau, and other top officers were present.
Shah said all agencies of the Modi government were working in close coordination to prevent and reduce cybercrime. He stressed that institutions such as the I4C, CBI, state police forces, NIA, Enforcement Directorate, RBI, Department of Telecommunications, MeitY and the judiciary must function as a single ecosystem to combat cyber threats effectively.
Highlighting the growth of Digital India, Shah said India had crossed one billion internet users, with broadband connections increasing nearly 16 times in the last 11 years. He said the connectivity of Parliament to Panchayats through BharatNet was a major achievement, with over 2 lakh village panchayats now connected.
India, he said, has set global records in digital payments. “Every second digital transaction in the world is happening in India,” Shah noted, adding that in 2024 alone, the country recorded over 181 billion digital transactions worth more than ₹233 trillion.
With digital payments accounting for 97 per cent of transaction value and 99 per cent of transaction volume, Shah said ensuring cyber security was now integral to economic and national security.
Referring to financial inclusion, Shah said more than 57 crore Jan Dhan accounts had been opened and ₹48 lakh crore had been transferred directly to beneficiaries through DBT. “With 100 crore internet users, 181 billion UPI transactions and 57 crore Jan Dhan accounts, India is moving towards becoming a cyber-success society,” he said.
The Home Minister said cybercrime had evolved from isolated acts into organised, institutionalised operations using advanced technologies. He called for continuous innovation, capacity building and coordinated enforcement to stay ahead of criminals.
Shah outlined the government’s multi-pronged strategy against cybercrime, which includes real-time reporting, a strong forensic laboratory network, research and development, public awareness and cyber hygiene.
He said the I4C portal had been accessed over 23 crore times since 2020, with more than 82 lakh cybercrime complaints registered. Of these, around 1.84 lakh were converted into FIRs.
Shah said ₹8,189 crore had been frozen or returned to victims out of an estimated ₹20,000 crore involved in cyber fraud cases. He congratulated I4C, CBI and associated agencies for the achievement.
He informed that the Ministry of Home Affairs had cancelled over 12 lakh SIM cards, blocked IMEI numbers of more than 3 lakh mobile phones and arrested 20,853 accused persons in cybercrime cases till December 2025.
Calling the 1930 cybercrime helpline critical, Shah urged police forces across the country to ensure adequate call handlers. “If a victim’s call is unanswered, the money is gone,” he warned. He also directed banks to adopt the Mule Account Hunter software developed jointly by the Government of India and RBI, saying consumer protection could not be ensured until mule accounts were eliminated.
Shah said 62 banks and financial institutions were already onboarded with I4C, while 795 institutions including banks, fintech firms, NBFCs and e-commerce platforms were connected. The government aims to onboard all banks, including cooperative banks, by December 2026.
The Home Minister also highlighted the role of CBI and NIA in tackling cross-border cybercrime and stressed the need to maintain the chain of custody of digital evidence to ensure convictions.
On the occasion, Shah presented President’s Medals, Police Medals for Meritorious Service and the Kendriya Grihmantri Dakshata Padak to CBI officers for distinguished service.
The two-day conference, organised by the CBI in collaboration with I4C, is focusing on cyber-enabled fraud trends, mule accounts and financial laundering, misuse of telecom infrastructure, and the role of artificial intelligence. It is being attended by over 360 delegates and is being broadcast live to more than 2,300 locations nationwide.
