In a landmark development, India has been elected to the Vice-Presidency of the Financial Action Task Force (FATF), marking the first time the country will hold this position. Senior IAS officer Vivek Aggarwal, currently serving as Secretary in the Ministry of Culture, has been appointed to the role for a one-year term from July 2026 to June 2027.
Acknowledgment of India's Global Role
Calling the appointment a recognition of India's collective effort, Aggarwal emphasized the strength of the nation's anti-money laundering and counter-terrorist financing framework. He expressed deep honor in serving and looked forward to collaborating with the FATF Global Network to ensure a safer, more inclusive, and resilient international financial system.
Aggarwal, a 1994-batch IAS officer of the Madhya Pradesh cadre, was elected by the FATF Plenary from among its member countries. The Vice-President assists the President in steering the organization's global mandate to combat money laundering, terrorist financing, and proliferation financing risks.
India's Enhanced Credibility
The appointment reflects India's enhanced credibility within the FATF Global Network, which comprises over 200 jurisdictions. This credibility is built on India's strong performance in recent Mutual Evaluations and its active participation in shaping global policy responses to emerging financial risks, including virtual assets and digital payment systems.
Revenue Secretary Arvind Shrivatsava welcomed the development, terming it a proud milestone and reiterating India's commitment to strengthening the integrity of the global financial system.
About FATF
The FATF, headquartered in Paris, is the global standard-setting body responsible for developing and promoting policies to combat money laundering and terrorist financing. Its Presidency runs on a two-year term, with the Vice-President supporting the President in executing the organization's mandate.
India's elevation to the Vice-Presidency is seen as a major diplomatic and institutional milestone, underscoring its expanding leadership role in global financial governance.
