Pakistan isolated by all countries in FATF, on verge of being in 'Dark Gray' list – Times of India, The Times of India

PARIS:Pakistanis on the verge of strong action by the international terror financing watchdogFATFand the country may be put in the ‘Dark Gray’ list, the last warning to improve.
Officials attending the ongoing plenary of the Financial Action Task Force (FATF) here said as per indications, Pakistan will be isolated by all members for not doing enough .
Pakistan is on the verge of facing strong action by FATF, given its inadequate performance since it managed to pass in only six of 27 items, an official privy to the development said.
The FATF will finalize its decision on Pakistan on October 18.
According to FATF rules there is one essential stage between ‘Gray’ and ‘Black’ lists, referred to as ‘Dark Gray’.
‘Dark Gray’ means issuance of a strong warning, so that the country concerned gets one last chance to improve, another official said.
‘Dark Gray’ was the term used for warning up to 3rd Phase. Now it’s just called last warning – that is the 4th phase.
The FATF is an inter-governmental body established in 1989 to combatmoney laundering, terrorist financing and other related threats to the integrity of the international financial system.

Pakistan was placed on the Gray List by the Paris-based watchdog in June last year and was given a plan of action to complete it by October 2019, or face the risk of being placed on the black list with Iran and North Korea.
If Pakistan continues with the ‘gray list’ or put in ‘Dark Gray’ list, it would be very difficult for the country to get financial aid from the IMF, the World Bank and the European Union, making its financial condition more precarious.