New Delhi: India has secured a significant position in global financial governance after senior bureaucrat Vivek Aggarwal was elected Vice-President of the Financial Action Task Force (FATF), the international body responsible for combating money laundering, terrorist financing and proliferation financing. The appointment marks the first time India will hold the vice-presidency of the influential global watchdog.
Vivek Aggarwal, a 1994-batch Indian Administrative Service (IAS) officer of the Madhya Pradesh cadre and currently Secretary in the Ministry of Culture, will serve as FATF Vice-President for the term from July 2026 to June 2027. His appointment was approved during the FATF Plenary meeting held in Paris. He will succeed the United Kingdom’s Giles Thomson in the role.
The Ministry of External Affairs described the development as a “major win for India,” highlighting the country’s growing influence in international efforts to tackle financial crimes and terrorism funding. Officials said the appointment reflects global recognition of India’s contributions to strengthening anti-money laundering and counter-terror financing frameworks.
Aggarwal is no stranger to FATF processes. He previously headed India’s delegation to the organization and played a key role in India’s recent mutual evaluation process, where the country received strong ratings for its efforts against money laundering and terror financing.
Headquartered in Paris, FATF sets international standards and monitors compliance by countries in the fight against illicit financial flows. The body’s assessments can have far-reaching implications for economies, banking systems and access to global financial markets. Countries placed under enhanced monitoring often face increased scrutiny from investors and international institutions.
India has been a member of FATF since 2010. Experts view the country’s elevation to the vice-presidency as a milestone that could enhance New Delhi’s voice in shaping global financial security policies and strengthening international cooperation against terrorism financing and money laundering.
