22/06/2026
10 days left until commencement of the AML/CTF. One of the most common questions we’re hearing from agents: “Do I have to do all of this compliance work myself?”
The short answer is no - and here’s why.
The AML/CTF Act includes a mechanism called a reliance agreement. It allows one reporting entity to formally rely on customer due diligence conducted by another. For agents who work with a conveyancer on every transaction - which is every residential sale or purchase - this is genuinely useful.
The due diligence work is already happening on the conveyancing side. A reliance agreement means you build on that rather than duplicating it. The compliance work happens once, not twice.
But remember: a reliance agreement doesn’t replace your own AML/CTF Program. You still need that, and you remain responsible for your own obligations. But used properly, a reliance agreement is one of the most practical ways to manage the verification piece without reinventing the wheel on every transaction.
With two weeks to go, now is the time to get this in place. Send us a message if you’d like to talk through how it works.
