Accountants and accounting firms must implement anti-money laundering (AML) and counter-terrorism financing (CFT) measures when they handle client activities such as managing funds, securities, real property, or business assets. These measures are essential due to the risk of being exploited for illegal activities, including tax evasion or laundering proceeds of crime. Accountants are legally required to report suspicious activities and comply with AML regulations, including know-your-customer (KYC) procedures and transaction monitoring. Gaps in compliance often arise from confidentiality agreements or fear of losing clients, which can lead to illicit activities being concealed. To address these risks, accountants must establish a risk-based compliance program, including client risk assessments, control measures, and ongoing monitoring. Maintaining compliance involves regular staff training, enhanced due diligence, continuous transaction monitoring, and adherence to reporting obligations, with periodic reviews of the compliance program.