This circular highlights to financial institutions (FIs) Singapore’s (i) National Anti-Money Laundering Strategy, (ii) Law Enforcement Strategy to Combat Money Laundering (iii) Proliferation Financing National Risk Assessment, (iv) Virtual Assets Risk Assessment, (v) Legal Persons Risk Assessment, and (vi) Legal Arrangements Risk Assessment. These form part of Singapore’s efforts to keep pace with changing risks, trends and typologies. FIs are reminded to identify, assess and understand Money Laundering, Terrorism Financing and Proliferation Financing risks at an enterprise-wide level and assess the effectiveness of the relevant risk-focused Anti-Money Laundering, Countering the Financing of Terrorism and Countering Proliferation Financing controls.