India scores a first: Why Vivek Aggarwal's FATF appointment is a big win

Vivek Aggarwal is a senior Indian civil servant who has been elected as Vice-President of the Financial Action Task Force (FATF), marking the first time India will hold the vice-presidency of the global financial crime watchdog. His term is scheduled to run from July 2026 to June 2027. 

Current role in India 

Aggarwal currently serves as Secretary in India’s Ministry of Culture. Before this appointment, he played a key role in India’s anti-money laundering and counter-terror financing framework as Additional Secretary in the Department of Revenue and head of the Financial Intelligence Unit (FIU-India). He was closely involved in coordinating India’s FATF mutual evaluation process. 

Why his election matters 

His election is being viewed as a significant diplomatic and strategic achievement for India. FATF is the world’s premier body for setting standards and monitoring efforts to combat money laundering, terrorist financing and proliferation financing. The vice-president assists the FATF president and can stand in for the president when required. 

India’s elevation to the FATF leadership comes after the country’s 2024 mutual evaluation, in which India was placed in the “regular follow-up” category, reflecting a strong level of compliance with global anti-money laundering standards. Aggarwal was among the key officials overseeing that assessment process. 

About FATF 

The Financial Action Task Force (FATF) was established in 1989 by the G7 nations and is headquartered in Paris. It develops global standards to combat money laundering, terrorist financing and the financing of weapons proliferation. More than 200 jurisdictions follow FATF recommendations through its global network. India became a full FATF member in 2010.