India’s Vivek Aggarwal Elected as Vice-President of FATF
In a landmark achievement for India, senior bureaucrat Vivek Aggarwal has been elected as the Vice-President of the Financial Action Task Force (FATF). This appointment highlights India’s dedication to fighting money laundering and terrorism financing.
Aggarwal, who serves as the Secretary in the Ministry of Culture, will take on this role for the term from July 2026 to June 2027. This marks a significant first for India, as it will now hold a leadership position within this important global organization.
The Vice-President of FATF is chosen from the member countries and works alongside the President to fulfill the group’s aim of addressing risks associated with money laundering and terrorist financing. Aggarwal expressed his gratitude for the role, noting it reflects the collective efforts and strength of India’s framework in these critical areas. He looks forward to collaborating with the FATF global community to foster a safer and more inclusive financial system around the world.
The appointment is also a testament to India’s growing influence and credibility within the FATF, which comprises over 200 jurisdictions. India’s successful track record in mutual evaluations and active participation in global discussions on emerging financial threats, such as those related to digital currencies and payment systems, have contributed to this achievement.
Revenue Secretary Arvind Shrivatsava welcomed this milestone, emphasizing India’s commitment to enhancing the integrity of the international financial system. The FATF, based in Paris, sets global standards to combat money laundering and terrorist financing, and the Vice-President plays a crucial role in implementing these initiatives.
India’s ascension to this position is seen as a significant diplomatic victory, highlighting the country’s expanding leadership in global financial governance.
