What is FATF, whose vice presidency India assumed for the 1st time?

The Financial Action Task Force, whose vice-presidency India has assumed for the first time, is "a Paris-based inter-governmental body that sets global standards to prevent money laundering, terrorist financing and...financing of proliferation," PIB stated. The body, established by the G7 in 1989, has 39 members, including the US, UK, EU, and China. IAS officer Vivek Aggarwal was appointed the VP.