30/06/2026
New Anti-Money Laundering (AML) laws come into effect from tomorrow, bringing important changes to the way property is bought and sold across Australia.
If you're planning to buy or sell, you may notice a few additional steps throughout the process. Real estate agencies are now required to carry out identity verification and customer due diligence checks to help prevent money laundering and other financial crime.
As part of these new requirements, you may be asked to:
• Verify your identity
• Provide additional documentation
• Confirm the source of your funds where required
• Complete these checks before certain stages of your transaction can proceed
While these requirements are new to the real estate industry, they have long been standard practice in banking and other financial services. Their purpose is to strengthen the integrity of Australia's property market while providing greater protection for everyone involved.
If you're thinking about buying or selling, there's no need to be concerned. By providing the requested information early, the process should continue smoothly, and our team will be there to guide you every step of the way.
If you have any questions about the new AML laws or what they mean for your next property move, feel free to get in touch with our team.
