New Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws take effect from 1 July 2026.

Recent Anti-Money Laundering and Counter-Terrorism Financing reforms are expected to affect conveyancing transactions and other dealings with personal property by introducing stricter client identification, verification, and risk assessment requirements.

While most clients should experience only modest changes, these new laws may require additional information at the start of a matter, including proof of identity, information about the source of funds, the purpose of the transaction, and information about any companies, trusts, or third parties involved. Some transactions may also require enhanced checks, particularly where overseas parties, complex ownership structures, or higher-risk circumstances are present.

The reforms are designed to improve transparency in property transactions and reduce the risk of Australian real estate being used for money laundering or other unlawful activity and help limit organised financial crime.

These checks allows us to meet our new legal obligations while continuing to support you through a smooth transaction process. Providing this information and completing additional compliance requirements promptly helps keep your matter moving efficiently.

Visit the AUSTRAC website to learn more about these reforms and what they mean you.

Our team is here to guide you.  If you need further assistance, please contact us on 02 9589 666 or get in touch HERE 

This article provides general information only and should not be considered legal advice.