- India elected Vice-President of FATF for the first time, enhancing global influence
- Vivek Aggarwal has been appointed as FATF Vice-President for July 2026 to June 2027 term
- The FATF's role involves guiding policies against money laundering and terrorist financing
In a significant diplomatic and financial governance achievement, India has been elected to the Vice-Presidency of the Financial Action Task Force (FATF) for the first time, underscoring the country's growing influence in the global fight against money laundering and terrorist financing. The announcement was made by the Ministry of Finance on Friday.
Vivek Aggarwal, a 1994-batch Indian Administrative Service (IAS) officer of the Madhya Pradesh cadre and currently serving as secretary, Ministry of Culture, has been elected and appointed as FATF vice-president for the term from July 2026 to June 2027. His appointment was approved by the FATF Plenary, the organisation's highest decision-making body.
The development places an Indian official in one of the most influential leadership positions within the Paris-based intergovernmental watchdog, which sets international standards for combating money laundering, terrorist financing and the financing of weapons proliferation. The FATF Vice-President assists the President in guiding the organisation's work and shaping global policy responses to emerging financial threats.
According to the Ministry of Finance, India's elevation to the FATF leadership reflects the confidence and trust it has earned within the FATF Global Network, which comprises more than 200 jurisdictions. Officials highlighted that the achievement follows India's strong performance in its latest Mutual Evaluation and its active contribution to policy discussions on emerging financial risks, particularly those related to virtual asset service providers and digital payment systems.
Reacting to the appointment, Shri Vivek Aggarwal described the development as recognition of India's collective efforts to strengthen its anti-money laundering and counter-terrorist financing framework.
"This appointment is a recognition of India's collective effort and of the strength of our anti-money-laundering and counter-terrorist-financing framework. 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 said.
Revenue Secretary Shri Arvind Shrivastava termed the election a proud milestone for the country. He said the appointment reinforces India's commitment to safeguarding the integrity of the international financial system and strengthening global cooperation against financial crimes.
The appointment is being viewed as a major endorsement of India's expanding role in global financial governance at a time when cross-border financial crimes, illicit fund flows and terrorism financing continue to pose serious challenges to economies worldwide.
Established in 1989, the FATF is the leading international body responsible for developing and promoting policies to combat financial crimes. Its recommendations serve as the benchmark for national regulatory frameworks across the world. The FATF Presidency operates on a two-year term, with the Vice-President playing a key supporting role in advancing the organisation's mandate.
India's assumption of the FATF vice-presidency marks a new chapter in its engagement with global financial institutions and strengthens its voice in shaping international standards for financial security.
