Pakistan is on the point of powerful action by the global terror funding watchdog FATF and the nation could be set in the dark Grey’ record, the previous warning to enhance.
Pakistan is on the point of powerful action by FATF, given its insufficient performance, whereby it was able to maneuver in just half of 27 items, a formal privy to the development stated.
Based on FATF principles there’s just one crucial point between grey’ and black’ lists, also called’Dark Grey’. ‘Dark Grey’ means issuance of a powerful warning, so the nation concerned gets one final opportunity to enhance, the other official said.
‘Dark Grey’ has been the expression used for warning throughout the 3rd Stage. Now it is just referred to as warning — that’s the 4th stage.
The FATF is an inter-governmental body based in 1989 to fight money laundering, terrorist financing and other relevant dangers to the integrity of the global financial system.
Pakistan was set on the Grey List from the Paris-based watchdog in June this past year and has been provided a plan of action to finish it by October 2019 or face the chance of being put on the black record by Iran and North Korea.
If Pakistan has the grey list’ or place in dark Grey’ listing, it would be quite hard for the nation to acquire financial help from the IMF, the World Bank and the European Union, making its fiscal state more precarious.