One of the central pillars of the EU AML Package adopted in June 2024 is theEU AML Regulation. This regulation introduces directly applicable AML/CFT rules across all EU member states, replacing the previous approach where AML directives were transposed into national laws. This shift addresses regulatory fragmentation and strengthens enforcement across borders.
The complete AML Package includes the following four pillars:
EU AML Regulation (directly applicable rulebook)
6th AML Directive (not the 7th)
Establishment of a new EU Anti-Money Laundering Authority (AMLA)
Revised Transfer of Funds Regulation, especially concerning crypto-asset service providers The EU AML Regulation aims to unify and streamline the application of AML/CFT measures across the EU, ensuring a consistent and effective framework.
Reference: ACAMS CAMS Study Guide - 6th Edition, Chapter: International AML Standards - Section:
European Union AML Framework and Developments

Criminals may target accountants because they have the capability to create and structure companies, falsify accounts, and manipulate financial statements, which can be exploited to disguise illicit funds and facilitate money laundering.

* A, B, C, D are all identified by CAMS 6th Edition and FATF as primary financial crime risks for e- commerce platforms:
* A: Platforms can be exploited to launder money by processing the movement of criminal proceeds under the guise of legitimate sales.
* B: Use of stolen credit/debit cards for online purchases is a common fraud and ML technique.
* C: Fraud schemes (such as chargebacks or fake listings) are widespread on e-commerce platforms.
* D: E-commerce platforms can serve as fronts for illicit goods or services, masking the true nature of transactions.
* E and F are not commonly cited as principal inherent risks in AML/CTF guidance.
References:
CAMS 6th Edition, E-commerce ML/TF Risks
FATF, "Money Laundering Risks Arising from E-commerce Activities"

It is essential to ensure that anti-financial crime (AFC) tools are compatible and can be integrated with existing systems to avoid operational disruptions. Additionally, evaluating both implementation and ongoing maintenance costs is crucial for long-term sustainability and effective budget planning.

One of the core components of a strong AFC (Anti-Financial Crimes) compliance program is establishingclear roles, responsibilities, and lines of accountability, especially forescalating and addressing AFC risks and compliance issues. This governance clarity ensures effective implementation, transparency in decision-making, and timely resolution of compliance concerns.
While external audits (option A) and internal controls (option B) are important,defining governance structure and escalation responsibilities (option D)is a foundational element. Additionally, the board of directors (option C) provides oversight-not day-to-day compliance monitoring.
Reference: ACAMS CAMS Study Guide - 6th Edition, Chapter: Compliance Program Structures - Section:
Governance and Oversight Functions