In the first case, India's Vivek Aggarwal was appointed vice-president of the Paris-based FATF

For the first time, India has secured the vice-chairmanship of the Paris-based Financial Action Task Force (FATF), the global anti-money laundering and terrorist financing watchdog, with senior bureaucrat Vivek Aggarwal elected to the post for a one-year term from July 2026.

The appointment was announced at the FATF Plenary Meeting held in Paris on 17-19 June, where member countries selected Aggarwal as the next FATF Vice-President. He replaces Giles Thomson from the UK, who has been in the role since July 2025.

“The plenary session selected Vivk Aggarwal of India to become the next Vice-President of the FATF,” FATF said in its official statement of the outcome issued after the session.

Aggarwal currently serves as Secretary in the Union Ministry of Culture and previously served as the Head of the Indian Delegation to the FATF. He also held key positions in the revenue department and headed the Financial Intelligence Unit-India (FIU-IND), the national nodal agency for anti-money laundering and monitoring of suspicious financial transactions.

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The election marks the first time an Indian official has filled one of the top leadership positions at the Paris-based standards body and is seen as recognition of India’s growing role in shaping the global anti-money laundering (AML) and counter-financing of terrorism (CFT) framework.

“This appointment is a recognition of India’s collective efforts and the strength of our anti-money laundering and counter-terrorist financing framework. I am honored to serve and look forward to working with the FATF Global Network to keep the international financial system safe, inclusive and resilient,” Aggarwal said in a statement issued by the finance ministry.

Arvind Shrivatsava, Finance Minister, noted that Aggarwal’s appointment is a proud milestone and reaffirmed India’s continued commitment to strengthening the integrity of the international financial system.

The development comes as the FATF increasingly focuses on emerging risks associated with virtual assets, digital payments, decentralized financial platforms, online fraud, social media terrorist financing and technology-enabled financial crime.

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At the June plenary session, FATF members approved a number of initiatives to strengthen global defenses against illicit financing, including work on virtual assets and virtual asset service providers, underground banking and hawala networks, payment transparency, information sharing frameworks and terrorist financing through digital platforms.

Why FATF Matters

Established in 1989 by the G7 countries, the FATF is the world’s leading intergovernmental body responsible for setting standards to combat money laundering, terrorist financing and proliferation financing.

Its recommendations form the backbone of global regulations against money laundering and terrorist financing. More than 200 jurisdictions participate through the FATF and its regional bodies, making its standards the global benchmark for financial integrity.

The organization conducts peer reviews, known as peer reviews, to assess whether countries have effective systems to combat illicit financing. Countries with serious deficiencies can be placed on the FATF “grey list” (jurisdiction under enhanced supervision) or “black list” (jurisdiction subject to a call to action) – decisions that can significantly affect investor confidence, capital flows and access to the international financial system.

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At the last plenary session, the FATF added Bosnia and Herzegovina and Iraq to its gray list, while Algeria and Namibia were removed following the completion of agreed action plans.

Significance for India

India became a full member of the FATF in 2010 and has steadily expanded its role within the organization. The country has pushed for stronger global measures against the financing of terrorism and actively engaged in discussions about new risks arising from digital finance and virtual assets.

The vice-chairmanship will give India a greater role in driving the FATF’s policy agenda and shaping international responses to evolving financial crime threats.

The election is also expected to strengthen India’s voice in global discussions on issues such as cross-border financial crime, illicit financial flows, cyber fraud, hawala networks, risks related to cryptocurrencies and terrorist financing.

Who is Vivek Aggarwal?

Aggarwal, a 1994-batch Indian Administrative Service (IAS) officer of the Madhya Pradesh cadre, has held several senior posts in the government.

Before taking up the post of Secretary in the Ministry of Culture, he served as Additional Secretary in the Revenue Department and headed FIU-IND. During his tenure at the Ministry of Finance, he dealt with matters related to the Prevention of Money Laundering Act (PMLA), economic security, financial intelligence and tax policy. He has also represented India at FATF meetings as the head of the country’s delegation.