Recognition of India's collective effort, strength of anti-money-laundering, counter-terrorist-financing framework: Aggarwal on FATF Vice Presidency appointment
New Delhi, June 20
Calling the appointment as the Vice-President of the Financial Action Task Force a landmark moment, top Indian bureaucrat and senior IAS officer Vivek Aggarwal said that the appointment was an acknowledgement of India's combined efforts and the robustness of its framework for combating money laundering and financing of terrorism.
In a significant international recognition of India's growing role in strengthening the global financial security architecture, Aggarwal, who is currently the Secretary in the Ministry of Culture in the Government of India, has been elected and appointed Vice-President of the global anti-money laundering and counter-terror financing watchdog, marking the first time India will hold the position.
According to an official statement, Aggarwal, a 1994-batch IAS officer of the Madhya Pradesh cadre, will assume the Vice-Presidency for the term July 2026 to June 2027.
The Vice-President of FATF is elected by the FATF Plenary from among its member countries and assists the President in steering the organisation's global mandate to combat money laundering, terrorist financing, and proliferation financing risks.
"This appointment is a recognition of India's collective effort and of the strength of our anti-money-laundering and counter-terrorist-financing framework." Aggarwal
He added that he was honoured to serve and looked forward to working with the FATF Global Network to ensure a safer, more inclusive and resilient international financial system.
"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 added.
The appointment is being viewed as a reflection of India's enhanced credibility within the FATF Global Network of over 200 jurisdictions, built on its strong performance in recent Mutual Evaluations and active participation in shaping global policy responses to emerging financial risks, including virtual assets and digital payment systems.
Welcoming the development, Revenue Secretary Arvind Shrivatsava termed it a proud milestone and reiterated India's commitment to strengthening the integrity of the global financial system.
The FATF, headquartered in Paris, is the global standard-setting body responsible for developing and promoting policies to combat money laundering and terrorist financing. Its Presidency runs on a two-year term, with the Vice-President supporting the President in executing the organisation's mandate.
India's elevation to the Vice-Presidency is seen as a major diplomatic and institutional milestone, underscoring its expanding leadership role in global financial governance.
— ANI
Reader Comments
Excellent development indeed. This shows India's proactive stance against terror financing and money laundering. However, I hope this appointment translates into tangible action on ground - especially tracking black money and terror funds that flow through hawala channels. Good step, but implementation is key.
Finally! India getting its due credit in global financial governance. The FATF Vice Presidency is a big deal - shows that our systems are now being taken seriously internationally. Proud moment for all Indians! 🙏
Great news! But I hope the focus remains on making it harder for terrorists to move money, not just on paperwork. The real test will be if we actually see a reduction in funding for illegal activities across the region. Also, this position should push for stronger action against countries that shelter terror financiers.
Well deserved recognition for India's growing role in global finance. As someone following FATF developments, India has consistently improved its compliance with anti-money laundering standards. This Vice Presidency will also help push for better regulation of cryptocurrencies and digital payments, which is the need of the hour.
Kya baat hai! India ab global level par leadership role le raha hai. Lekin ek sawaal - kya humari domestic enforcement bhi utni hi strong hai? Bahut saare cases court mein atke hote hain. Umeed hai ki ye appointment enforcement ko bhi speed dega. Overall, proud moment indeed 😊
We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.