New AML Laws Are Coming.
New Anti-Money Laundering Laws and What They Mean for Your Property
Australia’s AML/CTF reforms are coming. We’ve been ahead of this for a while. Here’s what you need to know.
Australia’s property market is entering a new era of compliance. From 1 July 2026, real estate agencies including Ras360 Property Solutions become regulated entities under Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act. These reforms, known as Tranche 2, bring property professionals into the same framework that has long applied to banks and financial institutions.
The intent is straightforward: to prevent property transactions being used to conceal or move illicit funds. Australia’s property market has been identified internationally as a high-risk channel for financial crime, and these laws are designed to close that gap.
For the overwhelming majority of property owners, buyers, and sellers, the changes are minor and the experience will be smooth. Here’s what to expect.
What’s Actually Changing?
As your agent, Ras360 is now required to verify the identity of everyone involved in a property transaction: both the vendor and the buyer. We must also understand the source of funds where relevant, maintain detailed records, and report any suspicious activity to Australia’s financial intelligence agency, AUSTRAC.
These obligations begin at the point of engagement:
What Does This Mean for You Practically?
For most clients, the impact is minimal. Here’s what to expect:
A digital identity check early in the process, at or before signing. This takes just minutes.
For higher-value or complex transactions, we may ask about the source of funds. Completely standard practice.
Companies and trusts will require a small amount of extra documentation to identify who ultimately controls the entity.
What Ras360 Has Already Done
Partnered with AML Hub, a specialist AML compliance firm trusted by agencies, conveyancers, and legal professionals nationwide, to manage our compliance program end to end.
Our identity verification process is fully digital and straightforward for clients.
Our team is trained and ready ahead of the 1 July deadline.
We work within a connected network of conveyancers, solicitors, and financiers. In many cases, if your verification has been completed by another party, it won’t need to be repeated.
Frequently Asked Questions
Yes. All information collected as part of the verification process is handled in accordance with the Privacy Act 1988 and stored securely. It is used only for compliance purposes and is not shared beyond what the law requires.
No. The AML/CTF obligations apply to sales transactions only. Standard residential leasing and property management are not affected.
Additional information will be required to identify the beneficial owners of the entity. We’ll guide you through exactly what’s needed.
In many cases, we can rely on verification already completed by a fellow regulated professional through a formal reliance arrangement. Your Ras360 broker will confirm whether this applies to your transaction.
Have Questions Before Your Next Transaction?
We’re happy to walk you through what to expect. Reach out to your Ras360 broker directly.