New Delhi: India has got a big diplomatic advantage in the fight against money laundering and terror funding. Senior bureaucrat Vivek Aggarwal has been elected Vice Chairman of the Financial Action Task Force i.e. FATF. FATF is considered to be the most important organization that monitors illegal financial transactions worldwide.
This appointment is being considered as a strategic and diplomatic victory for India. India has always taken a tough stance against terrorism and the networks that fund it.
Benefit of experience and leadership
Vivek Aggarwal is currently working on the post of Secretary in the Government of India. Earlier he had led the Indian delegation in FATF. He has also been the Director of Financial Intelligence Unit India i.e. FIU-IND. FIU-IND is the nodal agency in the country to monitor suspicious financial transactions and prevent money laundering.
Officials say his selection reflects international recognition of India’s efforts to strengthen the global framework against terror funding and financial crimes.
FATF’s role and India’s expectations
FATF sets international standards to curb illicit financial activities. It looks at whether countries are following measures to prevent money laundering and terror funding. The organization also releases gray list and black list of those countries which do not meet the standards.
After becoming vice-chairman, Agarwal is expected to shape FATF’s policy agenda and strengthen global cooperation against financial crimes. His experience in intelligence, financial investigations and multilateral negotiations will help safeguard the global financial system.
India has earlier also been raising demands for action against cross-border terror funding and terror-related organizations at forums like FATF. Now with the appointment of Agarwal, New Delhi’s voice will become stronger in these discussions.
India’s asset recovery system praised
FATF had praised India’s asset recovery mechanism in November 2025. The organization had described the Enforcement Directorate i.e. ED as a model agency. In its report Asset Recovery Guidance and Best Practices, FATF had said that India is among the countries that have created strong legal and operational systems for confiscation and management of assets linked to crime and money laundering.
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