03/06/2026
🔒 IMPORTANT INFORMATION FOR OUR CLIENTS – NEW AUSTRAC REQUIREMENTS FROM 1 JULY 2026
From 1 July 2026, Settlement Agents and Conveyancers across Australia will be required to comply with new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws administered by AUSTRAC.
What does this mean for you?
When buying, selling or transferring property, you may be asked to provide additional information and documentation, including:
✅ Proof of identity
✅ Verification of your residential address
✅ Information about companies, trusts or other entities involved
✅ Details regarding the source of funds used in the transaction
✅ Information about individuals acting on behalf of others
✅ Additional documentation where a transaction is considered higher risk
These requirements are not optional and will apply to all Settlement Agents and Conveyancers providing designated services under the new legislation.
Why are these changes being introduced?
The reforms are designed to help protect Australia from:
• Money laundering
• Terrorism financing
• Fraud and identity crime
• Criminal exploitation of property transactions
At Oceanfront Conveyancing, we have been preparing extensively for these changes through specialist AML/CTF training, accreditation, risk management systems and compliance programs to ensure we are ready to meet our obligations while continuing to provide the professional service our clients expect.
We appreciate your patience and cooperation if we request additional information during your transaction. These measures help protect both our clients and the integrity of Australia’s property industry.
If you have any questions about the new requirements, please contact our team.
