Understanding Australia's New Anti-Money Laundering Laws

Buying or selling property has always involved a level of paperwork, but from 1 July 2026, there are some important new requirements that everyone should be aware of.

Australia's new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws now include real estate professionals, bringing our industry into line with banks and other financial institutions. These reforms are designed to make it harder for criminals to use property transactions to hide or move illicit funds, while strengthening the integrity of Australia's property market.

For most buyers and sellers, these changes won't affect their ability to buy or sell property, but you may be asked for more information than you've been asked for in the past. 

Why Are These Changes Being Introduced? 

Property has long been recognised around the world as a sector that can be targeted by criminals seeking to launder money. 

The new legislation aims to better protect Australia's financial system by requiring real estate professionals to carry out customer identification, understand who they're acting for and identify transactions that may be suspicious. These reforms also bring Australia closer to international best practice. 

Simply put, these laws are about protecting honest Australians and ensuring confidence in the property market. 

What Will This Mean for You? 

If you're buying or selling property, you may notice a few additional steps throughout the process. 

Your real estate agent may ask you to: 

- Verify your identity using government-issued identification. 

- Provide information about who owns or controls a company or trust involved in the transaction. 

- Confirm you're acting on your own behalf or identify anyone you're representing. 

- Provide additional information if a transaction involves more complex ownership structures or funding arrangements. 

These checks are becoming a normal part of the property process, much like the identification requirements you've probably experienced when opening a bank account.

Why Are We Asking These Questions? 

I understand that some clients may wonder why their real estate agent is requesting personal information. 

The answer is simple - we're now required by law to complete certain verification processes before providing designated real estate services. These obligations apply across the industry and help ensure property transactions remain safe, transparent and compliant. 

Our role isn't to make buying or selling more difficult. 

It's to make sure every transaction is completed professionally, securely and in accordance with Australian law. 

How Wilson Property Is Preparing 

At Wilson Property, we've invested considerable time preparing for these reforms. 

Our team has undertaken training, implemented new compliance processes and adopted systems designed to make the verification process as straightforward as possible for our clients. 

While there may be a little more paperwork than before, our goal is to make the experience seamless and explain every step along the way. 

What You Can Do to Help 

If you're planning to buy or sell property, you can help keep your transaction moving smoothly by: 

- Having your identification documents ready. 

- Advising us early if you're purchasing or selling through a company or trust. 

- Providing requested information promptly. 

- Asking questions if you're unsure why something is required. 

The sooner these checks are completed, the smoother the transaction is likely to be. 

Supporting You Every Step of the Way 

Change can sometimes feel overwhelming, particularly when new legislation affects an already significant life event. 

The good news is that you don't need to navigate these changes on your own. 

At Wilson Property, we're here to guide you through every stage of the buying and selling process. We'll explain what's required, why it's required and ensure your transaction is handled with professionalism, care and confidentiality. 

These new laws are another step towards creating a stronger, safer and more transparent property industry, and we're proud to be playing our part in protecting both our clients and the communities we serve.