From 1 July 2026, significant changes to Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws will affect property transactions across the country.
If you’re buying, selling or transferring property, you may notice that your conveyancer asks more questions than before. While this may seem unusual at first, these changes are part of a nationwide initiative designed to protect the Australian property market and prevent criminal activity.
What Is AML/CTF?
AML/CTF stands for Anti-Money Laundering and Counter-Terrorism Financing.
In simple terms, these laws are designed to prevent criminals from:
Australia has expanded these laws to include a range of professions involved in property and financial transactions, including conveyancers, lawyers, real estate agents, accountants and trust and company service providers. As a result, property professionals now have additional obligations to identify clients, understand transactions and assess risk.
What Does This Mean for Clients?
For most buyers and sellers, the transaction process will remain largely the same. However, you can expect additional compliance requirements throughout your matter.
These may include:
More Detailed Identity Verification
As part of the new AML/CTF requirements, clients will be required to complete a Verification of Identity (VOI) process through a secure online portal.
This digital process allows clients to verify their identity remotely without needing to attend our office in person.
Depending on the circumstances, clients may be asked to:
The use of secure digital identity verification is becoming the industry standard and helps ensure property transactions remain safe, compliant and protected against fraud and identity theft.
Please note that settlement and transaction documents cannot proceed until the required identity verification has been successfully completed.
Questions About Your Source of Funds
Your conveyancer may ask where the money for the transaction has come from.
This is now a standard compliance requirement and does not mean there is a problem with your transaction.
Examples of documents that may be requested include:
Additional Information for Trusts and Companies
Where property is being purchased or sold by a company, trust or other entity, additional information may be required regarding:
Why Are These Questions Being Asked?
Many clients are surprised when asked for additional information, particularly regarding finances or ownership structures.
These questions are not being asked out of curiosity. They are legal requirements imposed on property professionals by the Australian Government and regulated by AUSTRAC.
Conveyancers are required to understand who they are acting for, where transaction funds are coming from and whether any aspects of the transaction present an increased compliance risk.
Will This Delay My Transaction?
In most cases, no.
However, delays can occur if requested information or identification documents are not provided promptly.
To help keep your matter progressing smoothly, we recommend:
Risk Assessment and Ongoing Monitoring
AML/CTF obligations do not end once a file is opened.
Conveyancers are required to monitor transactions throughout the process and may need to request additional information if circumstances change.
Transactions that may require enhanced due diligence can include:
This does not mean a transaction cannot proceed. It simply means additional checks may be required.
A National Change Affecting the Entire Industry
These changes are being implemented nationwide and apply across the Australian property industry.
From 1 July 2026, AML/CTF compliance obligations will apply to conveyancers, lawyers, real estate agents and other professionals involved in property transactions. Full compliance is required from this date, with businesses required to enrol with AUSTRAC shortly thereafter.
Importantly, digital identity verification will become a standard part of the conveyancing process across Australia. Clients should expect to complete their Verification of Identity through a secure online platform, regardless of which conveyancer, lawyer or property professional they engage.
This is not a Coast to Coast Conveyancing policy—it is an industry-wide legal requirement designed to strengthen the integrity of Australia’s property market.
How Coast to Coast Conveyancing Can Help
At Coast to Coast Conveyancing, we understand that these additional requirements may be unfamiliar to many clients.
Our team is committed to making the process as straightforward as possible by guiding you through the requirements, explaining what information is needed and helping ensure your transaction remains compliant while progressing smoothly toward settlement.
Using secure digital identity verification technology and industry-leading compliance systems, we can assist clients Australia-wide to complete their verification requirements quickly and conveniently from anywhere.
If you have any questions about the new AML/CTF requirements or how they may affect your upcoming property transaction, please contact our team.
