India to assume Vice-Presidency of the Financial Action Task Force (FATF) for the first time

📌 Summary:

• India will hold the Vice-Presidency of the Financial Action Task Force (FATF) for the first time, for the term July 2026–June 2027
• Shri Vivek Aggarwal (1994-batch IAS, MP cadre; currently Secretary, Ministry of Culture) has been elected Vice-President by the FATF Plenary
• The Vice-President is elected from among FATF members and assists the President in steering the body; FATF Presidency runs on a two-year term
• The elevation builds on India's strong recent Mutual Evaluation and its contribution to global policy on virtual asset service providers and digital payments
• Reflects India's credibility within the FATF Global Network of 200+ jurisdictions in the global fight against money laundering and terrorist financing

🎯 UPSC Relevance: GS3 Internal Security (money laundering, terror financing) and GS2 IR — India's rising role in global financial-integrity standard-setting

📝 Prelims Facts:

• FATF is a Paris-based inter-governmental body setting global standards against money laundering, terrorist financing and proliferation financing
• FATF was established in 1989 by the G7; India became a full member in 2010
• Vice-President assists the President; the Presidency has a two-year term

🔑 Key Term: Mutual Evaluation — peer review of a country's anti-money-laundering / counter-terror-financing (AML/CFT) framework