From 1 July 2026, Australia's biggest anti-money laundering reforms in almost 20 years come into effect. Here's what that means for anyone buying, selling or investing in property.
If you're planning to buy or sell property in the coming months, you may notice a few extra questions and identity checks along the way.
That's because Australia's Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws are expanding to include the real estate industry for the first time. The reforms are designed to strengthen the integrity of Australia's property market by helping prevent money laundering, organised crime and terrorism financing.
While the legislation introduces new obligations for real estate professionals, the overall goal is simple: create a safer, more transparent property market for everyone.
Why are the laws changing?
Property has long been recognised internationally as a sector that can be vulnerable to financial crime.
Until now, Australian real estate agencies have not been directly regulated under AML/CTF legislation. From 1 July, that changes, with real estate agencies joining lawyers, accountants and conveyancers under the expanded framework.
The reforms bring Australia more closely into line with international best practice while strengthening confidence across the property industry.
What does this mean for buyers and sellers?
For most clients, the buying and selling process won't change dramatically. However, you may be asked to provide additional information during your property transaction.
This could include:
- Verifying your identity
- Providing information about the source of funds used to purchase property
- Confirming ownership structures where companies or trusts are involved
- Supplying additional documentation where required
These checks are designed to protect everyone involved in the transaction and help ensure Australia's property market remains secure and transparent.
What changes for real estate agencies?
From 1 July 2026, agencies will begin implementing a range of new compliance measures, including:
- Developing an AML/CTF compliance program
- Appointing a dedicated compliance officer
- Completing ongoing staff training
- Conducting customer due diligence
- Reporting certain transactions and suspicious activity where required
Businesses newly captured under the legislation must also enrol with AUSTRAC by 29 July 2026.
What this means at OC
At Ouwens Casserly, we're committed to making every property transaction as smooth and straightforward as possible.
Our team has been preparing for these changes to ensure we continue delivering the professional service our clients expect while meeting the new regulatory requirements.
If we request additional information during your buying or selling journey, it's simply part of the new national compliance framework designed to protect both clients and the broader property market.
Looking ahead
The introduction of AML/CTF reforms marks an important milestone for Australia's real estate industry. While there will be some additional compliance requirements behind the scenes, the focus remains on creating a more secure, transparent and trusted property market.
If you're buying, selling or investing in property and have questions about how these changes may affect your transaction, our team is here to help guide you through the process every step of the way.
This article is general information only. For advice specific to your business, speak with a qualified legal or compliance professional.
