4 Key AML/CTF Obligations

As a real estate professional in Australia, it is critical to prepare for the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) obligations, which will apply to the industry starting 1 July 2026. These measures aim to safeguard real estate businesses from being exploited for money laundering or terrorism financing activities.

AUSTRAC will provide guidance and educational resources to help the real estate sector implement these AML/CTF requirements, including insights on:

• • The scope of new regulated services.
  • Core obligations and practical implementation strategies.

Here is a summary of the key obligations for real estate agents:

1 – Enrol and Register with AUSTRAC

• • • Enrolment: Businesses offering regulated services under the AML/CTF laws must enrol with AUSTRAC within 28 days of commencing such services. For real estate professionals, this means enrolling by 29 July 2026.
    • Process: Enrolment requires providing information about your business, including its structure, services, key personnel, and contact details. Regular updates must be submitted to AUSTRAC when details change.

2 – Develop and Maintain a Tailored AML/CTF Program

• • • AML/CTF Program: Create a written plan that identifies, mitigates, and manages money laundering and terrorism financing risks specific to your business activities.
    • Support: AUSTRAC will issue further guidance and provide starter kits for small businesses by mid-2025 to assist in creating these programs.

3 – Conduct Customer Due Diligence (CDD)

• • • Initial CDD: Verify the identity of your customers before providing designated services. This includes understanding the purpose of the business relationship and identifying beneficial owners.
    • Ongoing CDD: Continuously monitor customer relationships to ensure transactions align with their risk profile. Apply enhanced due diligence measures for high-risk customers or transactions.

4 – Report Transactions and Suspicious Activities

• • • Threshold Transaction Reports (TTRs): Report any cash transactions of $10,000 or more (or the equivalent in foreign currency) to AUSTRAC.
    • Suspicious Matter Reports (SMRs): Submit reports for any activities or transactions that appear suspicious or may relate to money laundering, terrorism financing, or other unlawful behaviour, regardless of the amount.

By proactively preparing for these obligations, real estate professionals can ensure compliance while protecting their businesses from financial crime risks.

For further information on preparing your business for AML/CTF compliance, please don’t hesitate to contact Apex HR. Our team is here to guide you through the process and ensure your business is fully equipped to meet these new obligations