NEW ANTI-MONEY LAUNDERING LAWS 2026

New Anti-Money Laundering Laws: What Buyers and Sellers Need to Know

From 1 July 2026, significant changes to Australia's Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws will come into effect, expanding the obligations of real estate agencies and other professional service providers.

While these changes may mean buyers and sellers are asked to provide additional information throughout the property transaction process, the purpose is simple: to help prevent criminal activity and protect the integrity of Australia's financial system.

At Lucas, we're committed to making the process as straightforward, secure and seamless as possible. Here's what you need to know.

What Changes From 1 July?

For the first time, real estate agencies will be required to comply with Australia's AML/CTF legislation. Under the new laws, agencies must take reasonable steps to understand who they are dealing with, verify identities, assess potential risks and maintain records relating to property transactions.

These obligations are already standard practice across many financial institutions and professional services industries around the world. The changes bring Australia's real estate sector into line with international standards and strengthen protections against money laundering, organised crime and terrorism financing.

What Should Buyers and Sellers Expect?

For most people, the changes will simply mean providing a little more information before certain transactions can proceed. This may include verifying your identity, confirming where funds have come from, or providing additional documentation if you're buying or selling through a company, trust or self-managed super fund.

These checks apply to all clients and are a legal requirement under the new legislation. It's also important to note that previous Verification of Identity (VOI) checks may not satisfy the new requirements, as the AML framework requires a broader understanding of the client and the transaction.

Why Is This Necessary?

According to AUSTRAC, billions of dollars in crime-related funds move through Australia each year.

Money laundering allows criminal organisations to disguise the proceeds of illegal activities and introduce them into the legitimate economy. The new AML/CTF framework is designed to make it more difficult for criminal networks to use legitimate businesses and property transactions to move or conceal illicit funds.

While the additional checks may add a small step to the process, they play an important role in protecting individuals, businesses and the broader community.

How Lucas Is Supporting Clients

We understand that buying or selling property can already feel overwhelming without additional compliance requirements. That's why we've been preparing well in advance to ensure these changes have as little impact on our clients as possible.

Our team is implementing secure systems, streamlined verification processes and clear communication procedures to make the experience simple and efficient. When information is required, we'll explain exactly what is needed, why we need it and how it will be handled.

Most importantly, our team will be available to guide you through every step of the process and answer any questions along the way.

Looking Ahead

While the new AML/CTF laws introduce additional compliance requirements, they are ultimately designed to create a safer and more transparent property market for everyone.

If you're planning to buy or sell property after 1 July 2026, being prepared to provide identification and supporting documentation will help ensure a smooth transaction.

If you have any questions about the upcoming changes or what they may mean for your property plans, please contact the Lucas team. We're here to help.