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The Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Amendment Act 2024, which became law on 10 December 2024, marks a major regulatory shift for Australia’s real estate industry. For the first time, real estate professionals will be brought under the AML/CTF regime, joining the likes of lawyers, conveyancers, accountants, and other corporate sectors subject to these laws.
While the new obligations don’t officially start until 1 July 2026, now is the time to start preparing to understand what compliance will mean for your agency.
When announcing the legislation, the Federal Government highlighted it as a crucial step in protecting Australia from financially driven crime, including money laundering, terrorism financing, and other forms of organised crime. While this is one of the most significant changes some industries will have experienced in some time, the reform is designed to align Australia with global anti-money laundering standards and strengthen defences against financial crime.
With real estate transactions involving large sums of money, it makes them attractive for criminals seeking to launder illicit funds or finance terrorism. The aim of the AML/CTF reforms is to help professionals in the property sector detect, prevent, and report suspicious activity that may indicate criminal conduct.
The Real Estate Institute of Victoria (REIV) has published further guidance about the AML/CTF regime for real estate agents here.
From 1 July 2026, real estate professionals involved in buying or selling residential, commercial, land, or industrial property will be legally required to comply with AML/CTF obligations. This means your agency must implement a risk-based compliance framework designed to identify and prevent money laundering within property transactions
When the reforms take effect, your agency will be required to:
You can find more information here.
The introduction of Tranche 2 represents a significant change for the industry. While the adjustment period may come with challenges, such as increased administrative tasks, more complex onboarding processes, and the need for additional resources, it also offers an opportunity.
Complying with these regulations will enhance your agency’s credibility, transparency, and trustworthiness, helping you stand out in an increasingly regulated market.
Failure to comply could result in regulatory oversight by AUSTRAC, reputational damage, or financial penalties, so it’s critical to begin your preparation now.
To support your agency on this journey, Securexchange has developed a training module specifically for real estate professionals. This on-demand resource will help you:
You can also find out more information about the legislation from AUSTRAC.
