From 1 July 2026, Australian real estate businesses providing designated services are required to comply with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
For property buyers and sellers, this means you may be asked to provide identification and other information as part of the transaction process.
AML stands for Anti-Money Laundering, while CTF means Counter-Terrorism Financing. The requirements are designed to help prevent property transactions from being used to conceal criminal funds or finance serious illegal activity.
As part of the process, real estate agencies may need to undertake Customer Due Diligence, commonly known as CDD. This can include verifying a client’s identity, understanding who ultimately owns or controls a company or trust, checking relevant individuals against sanctions or politically exposed person databases, and undertaking additional checks where higher risk is identified.
For most individuals, the process should be relatively straightforward and may involve providing information such as your name, date of birth, residential address and current government issued identification.
Where a company, trust or other entity is involved, additional information may be required about directors, shareholders, trustees, beneficiaries and beneficial owners.
The new AML/CTF requirements apply across the Australian real estate industry and are not requirements introduced by individual agencies.
At Clements International, our aim is to make the process as straightforward as possible while meeting our obligations under Australian law.
For more information, read our full guide to AML/CTF requirements for property buyers and sellers.
*This information is general in nature and does not constitute legal, financial or taxation advice.*