This circular sets out additional guidance that financial institutions (FIs) should consider in order to ensure that they have robust processes in place to effectively detect and manage sanctions-related risks. Specifically, FIs need to maintain strong Board and Senior Management oversight over sanctions-related risks, and continue to strengthen its sanctions-related detection capabilities. FIs should review their AML/CFT frameworks and controls against the additional guidance set out in this circular, and take steps to enhance its controls as appropriate if any gaps are noted.