AI has upgraded the fraudster — upgrade the defence

Question (10 marks, ~150 words):

AI has industrialised financial fraud; India's defences must shift from alert-based monitoring to network intelligence. Discuss.

Explain the AI fraud pipeline (deepfakes, mule accounts, layering). Data: 4.5 lakh mules, Rs 17,000 cr, Rs 30 trillion UPI/month, MuleHunter.ai. Argue rule-based limits vs AI intelligence layer + friction. Balance with auditability. Way forward: network mapping, shared intel.