Senior Indian Administrative Service (IAS) officer Vivek Agarwal has been elected Vice President of the Financial Action Task Force (FATF), the global body that sets standards to combat money laundering and terrorist financing. The decision was taken at the organisation’s recent plenary meeting in Paris.
The FATF was established in July 1989 in Paris following an initiative by the G7, initially to frame policies to curb the growing threat of illicit money flows worldwide. After the September 11, 2001 terror attacks in the United States, its mandate was expanded to include measures to prevent financing for terrorism.
Agarwal, who is currently serving as Secretary in India’s Ministry of Culture, will hold the vice president’s post for a one-year term, up to July next year.
A 1994-batch IAS officer from the Madhya Pradesh cadre, Agarwal has previously led India’s delegation to the FATF and has also served as Director of India’s Financial Intelligence Unit (FIU). The Union government welcomed his appointment.
India joined the FATF in 2010, and this is the first time the country will hold the Vice President position in the international watchdog overseeing illegal financial activities.
