03/06/2026
๐ Important Changes for Property Buyers and Sellers โ Effective 1 July 2026
At White Sands Property Solutions, we want to keep our clients informed about important changes affecting the real estate industry.
From 1 July 2026, new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws will apply to real estate transactions across Australia.
As part of these new legal requirements, you may be asked additional questions and required to provide identification or supporting documents when buying or selling property.
These questions are not about being intrusive or nosy โ they are now a legislative requirement. If youโve opened a bank account, applied for finance, or dealt with a financial institution in recent years, you may already be familiar with similar verification processes.
Under the new legislation, real estate agencies such as White Sands Property Solutions are required to undertake these checks on behalf of the Australian Government to help combat money laundering, fraud, and other financial crimes.
While this may introduce some additional steps into the process, these measures are designed to protect the integrity of Australiaโs property market and ensure compliance with federal legislation.
We appreciate your patience, understanding, and cooperation as we implement these new requirements and work through the transition.
If you have any questions about the new AML/CTF obligations or how they may affect your property transaction, please contact our team.
Thank you for your continued support.
The Team at White Sands Property Solutions
While the changes to the Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF) legislation are old news for the real estate industry, they will come as...