A significant regulatory change is coming to the Australian real estate industry.
From 1 July 2026, certain real estate services will become subject to Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regime. These reforms extend AML/CTF obligations beyond banks and financial institutions to include a range of professional service providers, including real estate professionals.
The reforms are designed to help prevent criminals from using property transactions to launder money or finance terrorism. As a result, real estate agencies involved in property sales will be required to take a more active role in verifying clients, managing risk and identifying suspicious activity.
Property buyers and sellers may notice additional identification requirements and requests for information during the sales process. Similar to the checks already undertaken by banks and lenders, agencies may need to verify identities and, in some circumstances, request further information about ownership structures and the source of funds used in a transaction.
To prepare for these changes, our team has undertaken specialised AML/CTF training and invested in compliance systems to support our obligations under the new legislation. These measures will help us meet the new requirements while continuing to provide a professional and efficient experience for our clients.