Money laundering and terrorism financing (ML/TF) continues to be an on-going threat which has the potential to adversely affect the country's reputation and investment climate which may lead to economic and social consequences. A 2004 amendment to the Anti-Money Laundering and Anti-Terrorism Financing Act (AMLATFA), 2001 has redefined “Reporting Institutions” (RIs) to include accountants, auditors, lawyers and other selected professionals. Previous studies on the AML/CFT in Malaysia (e.g. Mohamed Ahmad, 2012 and Shanmugam Yhanasegaran, 2008) in general did not specifically address the issue of DNFBPs’ awareness, perceived impact and views on the AML/CFT requirements. Our study is the first in our knowledge to evaluate the understanding on the AML/CFT requirements in Malaysia from the perspective of the accountants.