Australian Anti-Money Laundering and Counter-Terrorism Financing Requirements

New Identification Requirements for Property Buyers and Sellers from 1 July 2026

From 1 July 2026, new Australian Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) requirements will apply to the real estate industry including the retirement housing sector.

As a result, if you are buying or selling property, you may notice that real estate agencies are asking for more identification documents than they have in the past.

These new laws are designed to help prevent money laundering, terrorism financing and other serious criminal activity, while protecting consumers and maintaining the integrity of the Australian property market.

For most people, the process is simple. You may be asked to provide identification such as a driver's licence or passport and, in some cases, additional information may be required to verify your identity.

Importantly, these checks are conducted for all clients and do not indicate that there is any concern regarding you or your transaction. They are simply part of the legal requirements that real estate agencies must follow from 1 July 2026.

At Seniors Own Real Estate, we understand that many of our clients are navigating significant life changes such as downsizing, moving into a retirement village, transitioning to aged care or assisting family members with property matters. Our team is committed to making the process as straightforward and stress-free as possible.

If you have any questions about identification requirements or the property sales process, please don't hesitate to contact our team member, Scott Ewen.

AML/CTF Client Checklist

Before listing or purchasing a property, it can be helpful to have the following ready:

✓ Current driver's licence or passport

✓ Current contact details

✓ Details of any company, trust or other entity involved in the transaction

✓ Enduring Power of Attorney documentation (if acting on behalf of another person)

✓ Executor documentation (if managing a deceased estate)

✓ Any additional information requested by your sales representative

Having these documents available can help ensure your property transaction progresses smoothly and without unnecessary delays.