IMPORTANT CLIENT INFORMATION - EFFECTIVE 1 JULY 2026
What You Need to Know About
New AML/CTF Requirements
Keeping you informed every step of the way
New Australian Government legislation extends Anti-Money Laundering
and Counter-Terrorism Financing (AML/CTF) laws to our profession from 1 July 2026.
This means we are now required to collect additional information from our clients as part of our onboarding process for Conveyancing services.
01
Businesses Now Required to Comply
From 1 July 2026 AML/CTF Obligations extend to the following professions:
Conveyancers
Real estate agents and property developers
Dealers in precious stones, metals and products
Lawyers
Accountants
Trust and company service providers
ADDITIONAL INFORMATION REQUIRED
02
What We Will Need From You
AUSTRAC has provided us with a Customer Due Diligence (CDD) form with additional requirements beyond our standard form. We will need to ask you about the following:
Your occupation
How you are funding your purchase - and the source of funds if you are not using a mortgage
Whether you are a Politically Exposed Person (PEP) - or a family member or a closse business associate of one
What is a PEP?
A person who holds, or has held, a prominent public position or function.
A member of the Commonwealth or State Legislature
Justice
Senior Federal or State Government administrator
Officer in the Armed Forces
State or Federal Police Officer
Chair or associate of a State or Federal Board
03
Additional Identity Checks
Electronic VOI
Our standard identity verification - already part of our process
Sanctions Check
Screening against government and international sanctions lists
Adverse Media Check
Review of publicly available information and news sources
OUR COMMITMENT TO YOU
We understand some of these questions may feel personal. We want to be clear — this is not our choice. We have been to comply, just as we were required to comply with Foreign Residence Capital Gains Withholding Tax obligations in July 2016. Non-compliance can result in heavy fines, criminal charges, and loss of operating licences — a serious consequence for any small business.
Please note:
mandated by the Australian Government
Why are conveyancers and agents now part of the reporting framework?
According to AUSTRAC, there are currently significant gaps in Australia's financial system that allow organised crime and professional money laundering operations to cause harm to individuals, businesses and communities.
These changes are designed to close those gaps, meet international standards, and build a stronger intelligence picture — enabling authorities to deter, detect, and disrupt money laundering and terrorism financing more effectively.
This reform is a critical step in protecting the integrity of the global financial system.
"
Even as the Tranche 2 mandate comes into effect from 1 July 2026, while the legislation may seem complex, the core way I serve you won't shift. My focus on clear, thorough, and personal service will remain exactly the same.
"
04
What Happens Next
Once our extended onboarding forms have been completed, we will be in a position to proceed with your conveyancing transaction as normal. We appreciate your understanding and cooperation as we navigate these new obligations together.
This information is provided to help you understand our compliance obligations under Australia's AML/CTF legislation. Questions? Please don't hesitate to get in touch.