New Anti-Money Laundering Laws

New AML/CTF Requirements for Real Estate Transactions

From 1 July 2026, Australian real estate agencies, including Webster Cavanagh, will be required to comply with expanded Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislation.

These changes introduce new compliance obligations for the real estate industry and are designed to help prevent financial crime within Australia's property market.

As part of these requirements, real estate agencies will need to collect and verify certain information from clients involved in property transactions.

Why Are These Changes Being Introduced?

The Australian Government has expanded AML/CTF laws to strengthen safeguards against money laundering, terrorism financing, and other forms of financial crime.

Property transactions often involve significant sums of money, making the real estate sector an area of interest for regulators seeking to prevent criminal activity. These reforms align Australia with international standards and help protect the integrity and transparency of the property market.

What Does This Mean for Buyers and Sellers?

If you are buying or selling property, you may notice some additional steps during the transaction process.

Our team may need to verify your identity and obtain information relating to the parties involved in the transaction. In some circumstances, further documentation or clarification may also be required.

These requirements apply to all real estate agencies across Australia and are mandatory under federal legislation.

Information We May Request

Depending on the nature of the transaction, you may be asked to provide:

• Identification documents to confirm your identity.
• Details regarding the ownership or control of a company, trust, or other entity.
• Information relating to the source of funds used in a transaction.
• Details about individuals or entities involved in a purchase or sale.
• Further explanation of complex transaction structures or payment arrangements.

The information requested will vary depending on the circumstances of each transaction.

Understanding Our Obligations

We appreciate that some of these requests may feel unfamiliar or more detailed than those traditionally associated with real estate transactions.

Please understand that when our team asks for information or supporting documentation, we are doing so to comply with legal obligations under the AML/CTF legislation. These requirements are similar to the identification and verification processes already undertaken by banks and other financial institutions.

In certain situations, we may be unable to proceed with a transaction until the required information has been provided and verified.

Protecting Your Privacy

Webster Cavanagh are committed to protecting your personal information.

Any information collected as part of our AML/CTF obligations will be managed in accordance with applicable privacy laws and regulatory requirements. Information will only be collected, stored, and used for legitimate compliance purposes and where required by law.

What Should You Expect?

For most clients, the process will be straightforward and involve providing identification documents and answering a small number of additional questions.

Our team will explain any requirements that apply to your transaction and assist you through the process to ensure everything is completed as smoothly as possible.

We're Here to Assist

At Webster Cavanagh, we understand that property transactions can already involve a significant amount of paperwork and administration. Our aim is to make the process as simple and efficient as possible while meeting our legal responsibilities.

We appreciate your cooperation as these new AML/CTF requirements are introduced across the real estate industry.

If you have any questions about the legislation or the information we request, please contact our team. We are committed to providing guidance and support throughout every stage of your property transaction.