17/06/2026
You may start seeing AML checks become part of the settlement process from 1 July 2026.
But what does that actually mean?
In simple terms, AML stands for Anti-Money Laundering. These laws are designed to help stop criminals from hiding or using money made from crime.
For clients, this may simply mean being asked to confirm who you are or provide some additional information during your property transaction.
These checks are becoming a standard part of the process and help protect property transactions and the wider financial system.
Find out more from AUSTRAC:
https://www.austrac.gov.au/general-public/why-you-might-be-asked-id
Let us know if there are other Tranche 2 terms you would like us to decode!