India joins FATF leadership as body sets sights on digital payment risks

India’s newly won Vice-Presidency of the Financial Action Task Force (FATF) comes amid the body’s growing focus on emerging financial risks, including those associated with virtual asset service providers and digital payments, the Ministry of Finance said. Shri Vivek Aggarwal, Secretary in the Ministry of Culture, was elected and appointed to the post for the term July 2026 to June 2027, marking the first time India will hold the position.

Aggarwal is a 1994-batch Indian Administrative Service officer from the Madhya Pradesh cadre. The ministry said his appointment builds on India’s sustained contribution to shaping global policy on these emerging risks, as well as its strong performance in its most recent Mutual Evaluation under the FATF process.

The Vice-President is elected by the FATF Plenary from among its member jurisdictions and assists the President in steering the organisation’s work. The FATF, based in Paris, sets global standards to prevent money laundering, terrorist financing and the financing of proliferation, with its Presidency running on a two-year term.

The ministry said India’s elevation reflects the credibility and trust it has earned within the FATF Global Network, which spans more than 200 jurisdictions. Aggarwal said the appointment recognised India’s collective effort and the strength of its anti-money-laundering and counter-terrorist-financing framework, and that he looked forward to working with the FATF Global Network to keep the international financial system safe, inclusive and resilient.

Revenue Secretary Shri Arvind Shrivatsava called the appointment a proud milestone for India.