Understanding the New Anti-Money Laundering Requirements for Real Estate

An Update on New Anti-Money Laundering Requirements

Hi everyone,

I wanted to share an update on some important new Australia-wide legislation regarding AML (Anti-Money Laundering) and CT (Counter-Terrorism).

From 1 July 2026, all Accountants, Lawyers, Real Estate Agents, and precious gem & metal dealers will need to comply with these new requirements. We’ll all be required to register by March 2026.

So, what does this mean for us in real estate?

What Does This Mean for Our Clients?

In simple terms, it means we will now need to complete a quick and simple ID verification process for:

• Sellers at the point of listing a property for sale

• Buyers when they purchase a property

How We’re Getting Ready

We’ve done our research and will be partnering with a company that has been working with real estate agencies in New Zealand for the past six years. They’ve now set up in Sydney to help Australian agencies like ours.

Their platform connects with government databases such as ASIC for ID checks on individuals, companies, trusts, and super funds. It also matches directors and shareholders for entities.

Most importantly, all of this is processed through an encrypted system — which means we, as the agency, do not store your ID or any data in our own systems.

What to Expect Moving Forward

It will feel a bit different for us all when we start, but agencies and clients will adapt quickly. Over time, it will just become part of the process.

I truly hope these efforts make a difference in reducing illegal activities — including drug and human trafficking and other terrible crimes — from entering our country and damaging our society.

Thanks for your support as we prepare for these changes.

Terry Robinson
Director

Have questions? Contact our team — we’re here to help.