23/06/2026
With the new AML/CTF reforms now just around the corner, Charlotte was honoured to represent Settlement Talk in this video as we continue our commitment to educating buyers and sellers about what these changes mean in practice 🏡
One of the questions we're anticipating hearing most often is: "Why do I have to provide this information again if I've already done it with my real estate agent?"
It's a fair question.
From 1 July 2026, settlement agents and real estate agents will both have their own obligations under Australia's anti-money laundering legislation. That means there may be some duplication in the information you're asked to provide throughout your property transaction.
Will that be frustrating at times? Probably.
But these are legislative requirements that all of us must comply with, and our focus has been on making the process as smooth and straightforward as possible for our clients.
You may hear the term "AUSTRAC" mentioned in discussions about these reforms. AUSTRAC is Australia's financial intelligence agency and is responsible for helping detect and prevent money laundering, terrorism financing and other serious financial crimes.
What does this mean for you?
For most buyers and sellers, not a lot will change day-to-day. We'll simply be collecting information earlier in the transaction, including completing your ID check at the start of the matter. Depending on the circumstances, we may also need to ask a few questions about the source of your funds or wealth.
As always, we'll explain what we need, why we need it, and guide you through the process every step of the way.
If you have questions about the upcoming AML changes, we'd love to hear them below 👇
🎥 A big thank you to Conveyancing Concierge Australia for putting this video together!