Money laundering costs the global economy an estimated 2 to 5% of GDP annually between $800 billion and $2 trillion, according to the UN. In India alone, enforcement agencies have attached assets worth thousands of crores over the last decade, across real estate, shell structures, and increasingly, digital financial rails.
We often obsess over the visible giants of the Indian economy, such as UPI, adoption of digital transactions and the rapid growth of the financial ecosystem. Yet, the real engine of our economic explosion seems to be invisible. It is a silent digital handshake happening millions of times a day between a central registry and a financial institution.
The Reserve Bank of India (RBI), as India’s central banking institution and primary financial regulator, occupies a critical position in safeguarding the integrity of the nation’s financial system against money laundering and terrorist financing threats.
The Global Fintech Fest (GFF) 2025 served as a key platform for dialogue between regulators and technology leaders shaping the future of financial services. For the TrackWizz team, a particularly significant moment was the interaction between our CEO, Sagar Tanna, and Shri K. Rajaraman (IAS), Chairperson of the International Financial Services Centres Authority (IFSCA).
On 28 January 2026, TrackWizz received its registration as an Offline Verification Seeking Entity (OVSE) under the Aadhaar Act, 2016. The certificate was presented to our CEO, Sagar Tanna, and KYC Lead, Ranjeet Mendon, marking an important achievement in our journey to simplify and strengthen KYC processes.
On 13th January 2026, compliance and onboarding leaders from banks, NBFCs, fintechs, and other regulated entities gathered at the National Stock Exchange auditorium in BKC, Mumbai, for Operation Bharosa, a closed door, practitioner focused seminar dedicated to the evolving Central KYC framework and the operational realities of CKYC 2.0.
There is a need to amend the Directions to clarify the responsibility of entities uploading customer records to and downloading the same from CKYCR, based on the office memorandum (OM) titled “CKYCR and the ultimate responsibility of REs – reg.
This is to inform you about a new feature in CKYCRR that will enable reporting entities (REs) to flag KYC
records of deceased customers.
The framework governing the quality of KYC records uploaded to the CKYCRR is already prescribed/published on the CKYC website under the operating documents/guidelines tab & REs are advised to follow these parameters reiterated in a compiled form.
A new module has been rolled out to manage the deactivation of duplicate KYC records that are observed in CKYCR. It’s designed to help reporting entities (REs) in reporting, merging & deactivating duplicate KYC records.