I am placing the module to test the UPDATE message before the formation of Adj-RIB-out. So that the false / malicious information wont go beyond my router ... Would like to know ur views about this approach.

I think all the various published approaches have this goal in mind, so the approach is fine. The hard part comes in deciding how to test the UPDATE message to detect "false/malicious information". There's lots of debate about that. --Sandy