FATF BACKS OFF ON IRAN FOR TWELVE MONTHS, BUT WATCH YOURSELF

The Financial Action Task Force (FATF/GAFI) has, in its June 2016 Public Statement, regarding Iran, "suspended counter-measures for twelve months, in order to monitor iran's progress for implementing the Action Plan."  Counter-measures, which mean calling upon FATF members to take steps to protect themselves from Iranian AML/CFT, will be reimposed after a year, if Iran failed to "demonstrate sufficient progress."

This is NOT a blanket excuse to ignore sanctions that are in place in your jurisdiction. Readers who wish to review the complete text of the Public Statement can access it on the FATF website:
 http://www.fatf-gafi.org/  and click on High Risk and Non-Cooperative Jurisdictions.