Financial Action Task Force (FATF)
Prelims:
International Organizations,
Economy
Mains:
GS Paper III – Internal Security,
Indian Economy, GS Paper II – International Relations
Current relevance:
Recently our Culture Ministry
Secretary, Vivek Aggarwal, appointed as Financial Action Task Force
(FATF) new Vice-President for the 2026-2027 term.
Significance for
India:
1.
Reflects India's expanding influence in global
financial governance and its contribution to strengthening
international financial security frameworks.
2.
Strengthens India's contribution to international anti-money
laundering (AML) efforts.
3.
Supports global initiatives to combat terrorist
financing (CFT).
4.
Strengthens collective efforts to address illicit
financial flows and related financial crimes.
About Financial Action
Task Force:
1.
It is an inter-governmental body established by the
G7 in 1989 and headquartered in Paris, France.
2.
Objective: To set global standards and
promote effective implementation of measures to
I.
Combat money Laundering
II.
Terrorist Financing
III.
Proliferation of
Weapons of Mass Destruction
3.
FATF Lists:
I.
Grey List: Jurisdictions Under Increased Monitoring
II.
Black List: High-Risk Jurisdictions Subject to a
Call for Action
Source: THE HINDU
- https://www.thehindu.com/news/national/vivek-aggarwal-appointed-financial-action-task-force-vice-president/article71123587.ece