International RelationsGS-IIGS-III· 1 min read
Financial Action Task Force (FATF) Vice-Presidency
Why in news?
Vivek Aggarwal, Secretary in the Culture Ministry, has been appointed as the Vice-President of the FATF for the 2026-2027 term, marking India's growing role in global financial governance.
Key points
- Vivek Aggarwal will serve as FATF Vice-President from July 2026 to June 2027.
- His appointment is seen as significant for India's engagement in anti-money laundering and counter-terrorist financing efforts.
- He previously led India's delegation to FATF and headed a multidisciplinary team during India's Mutual Evaluation process.
- The FATF is a global body that sets standards to combat money laundering and terrorist financing.
Background & context
The Financial Action Task Force (FATF) is an intergovernmental organization founded in 1989 to combat money laundering, terrorist financing, and other related threats to the integrity of the international financial system.
★ Prelims fact capsule
India will hold the FATF Vice-Presidency for the 2026-2027 term.
✎ Mains relevance
GS Paper II (International Relations - International Groupings and Agreements), GS Paper III (Economy - Money Laundering, Terrorism Financing)