New AML/CTF Laws Are Here: What Every Property Buyer and Seller Needs to Know

6 days ago
4 min read

From 1 July 2026, significant changes to Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislation will reshape the way real estate transactions are conducted.

If you’re planning to buy or sell property, you’ll notice some additional identity verification requirements before a transaction can proceed. While these new processes may be unfamiliar within the real estate industry, they have long been standard practice in banking and financial services.

The reforms are designed to safeguard Australia’s property market, reduce the risk of fraud and identity theft, and help prevent criminal organisations from using real estate transactions to launder illicit funds.

What Is Changing?

Under the new legislation, all Australian real estate agencies must undertake Customer Due Diligence (CDD) before providing real estate services.

In practical terms, this means agents are legally required to verify the identity of their clients and, where necessary, establish who ultimately owns or controls an entity involved in a property transaction.

These obligations apply across the industry and will become a routine part of buying and selling property.

How Edison Property Is Preparing

At Edison Property, we’ve been preparing well in advance to ensure these legislative changes are implemented efficiently and with minimal disruption to our clients.

Our team has completed specialised compliance training and introduced secure verification systems that enable us to meet our legal responsibilities while continuing to provide the personalised service our clients expect.

Our preparations include:

· Secure digital identity verification systems

· Updated client identification procedures

· Comprehensive staff training and compliance programs

· Ongoing monitoring and reporting processes in accordance with Australian legislation

Our objective is simple: to make compliance straightforward while continuing to deliver the professional, transparent and trusted service that Edison Property is known for.

To support these new obligations, Edison Property has partnered with AMLHUB, a specialist compliance platform developed specifically for the real estate industry.

Originally introduced in New Zealand following similar legislative reforms, AMLHUB now assists Australian agencies in meeting their AML/CTF obligations through secure digital verification technology.

Protecting our clients’ personal information was a major consideration when selecting a compliance partner. AMLHUB maintains internationally recognised information security certifications, giving our clients confidence that their personal information is managed with the highest standards of security and privacy.

What Information May Be Required?

The level of information requested will depend on the nature of the transaction and the ownership structure involved.

For most residential buyers and sellers, the process will be straightforward and involve only standard identification documents.

Depending on your circumstances, we may ask you to provide information that confirms:

· Your identity

· Your residential address

· Whether you are acting on your own behalf or for another individual or organisation

· Whether a company, trust or self-managed superannuation fund is involved

· The individuals who ultimately own or control that entity (known as beneficial owners)

To verify this information, documents may include:

· Australian passport or driver’s licence

· Proof of residential address

· Company registration documents

· Trust deeds

· Details of directors, trustees or beneficial owners where applicable

Why Does Edison Property Need This Information?

These requirements are mandated by Australian law and will apply to every real estate agency from 1 July 2026.

Beyond meeting our legal obligations, these measures provide greater protection for everyone involved in a property transaction.

Identity verification helps to:

· Confirm buyers and sellers are who they claim to be

· Verify authority to act for companies, trusts or other entities

· Reduce the risk of fraud and identity theft

· Protect property owners and purchasers

· Support the integrity and transparency of Australia’s property market

While the process introduces an additional compliance step, it also provides greater confidence that every transaction is conducted securely and legitimately.

Selling Your Property?

If you’re appointing Edison Property to sell your home, we’ll need to complete identity verification before we can formally act on your behalf.

For most property owners, this is a quick process completed during the early stages of your sales campaign.

Where ownership involves multiple parties, companies, trusts or self-managed super funds, additional documentation may be required to verify ownership and authority to sell.

Completing these checks at the outset helps avoid unnecessary delays once your property is on the market.

Buying a Property?

Purchasers will also be required to complete identity verification before proceeding with a property purchase.

These requirements apply regardless of whether you purchase by private treaty, auction or an off-market transaction.

Most buyers will simply provide standard identification documents, many of which can be verified electronically.

If the purchaser is a company, trust, self-managed super fund or other legal entity, further documentation may be required to identify the beneficial owners or controlling individuals.

Although this introduces one additional administrative step, it creates a more secure and transparent environment for buyers, sellers and the wider community.

Looking Ahead

For the vast majority of property transactions, the new AML/CTF requirements will simply mean completing a small amount of additional documentation before the buying or selling process begins.

The long-term benefits are significant.

These reforms will strengthen confidence in Australia’s real estate market, improve transparency, reduce opportunities for fraud and assist authorities in preventing criminal activity within the property sector.

Over time, identity verification will become just another routine part of a property transaction—much like it already is whenever Australians open a bank account or apply for finance.

Have Questions?

Whether you're buying your first home, selling an investment property or planning your next move, Claude Iaconi and the team at Edison Property is here to make the process simple, transparent and stress-free.

We'll explain the new AML/CTF requirements, guide you through the identity verification process and ensure every step of your property transaction is handled professionally, securely and in full compliance with Australian law.

As the property industry evolves, our commitment remains unchanged—to provide exceptional service, clear communication and expert advice that gives our clients complete peace of mind.