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Calling the appointment as the Vice-President of the Financial Action Task Force (FATF) a landmark moment, top Indian bureaucrat and senior IAS officer Vivek Aggarwal said that the appointment was an acknowledgement of India's combined efforts and the robustness of its framework for combating money laundering and financing of terrorism.
In a significant international recognition of India's growing role in strengthening the global financial security architecture, Aggarwal, who is currently the Secretary in the Ministry of Culture in the Government of India, has been elected and appointed Vice-President of the global anti-money laundering and counter-terror financing watchdog, marking the first time India will hold the position. According to an official statement, Aggarwal, a 1994-batch IAS officer of the Madhya Pradesh cadre, will assume the Vice-Presidency for the term July 2026 to June 2027. The Vice-President of FATF is elected by the FATF Plenary from among its member countries and assists the President in steering the organisation's global mandate to combat money laundering, terrorist financing, and proliferation financing risks. "This appointment is a recognition of India's collective effort and of the strength of our anti-money-laundering and counter-terrorist-financing framework." Aggarwal He added that he was honoured to serve and looked forward to working with the FATF Global Network to ensure a safer, more inclusive and resilient international financial system. "I am deeply honoured to serve, and look forward to working with the FATF Global Network to keep the international financial system safe, inclusive and resilient," he added. The appointment is being viewed as a reflection of India's enhanced credibility within the FATF Global Network of over 200 jurisdictions, built on its strong performance in recent Mutual Evaluations and active participation in shaping global policy responses to emerging financial risks, including virtual assets and digital payment systems. Welcoming the development, Revenue Secretary Arvind Shrivatsava termed it a proud milestone and reiterated India's commitment to strengthening the integrity of the global financial system. 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 organisation'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. (ANI)
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