New Anti-Money Laundering Laws

From 1 July 2026, all Australian real estate agencies, including Peterswald, are required to comply with new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislation.

While these changes introduce a few additional steps during the buying and selling process, they are designed to strengthen the integrity of Australia's property market and help protect against financial crime.

Here's what you need to know before your next property transaction.

Why are these changes being introduced?

The Australian Government has expanded the AML/CTF framework to include the real estate industry. These laws are designed to help prevent money laundering, terrorism financing and other serious financial crimes by requiring real estate businesses to verify the identity of their clients and better understand who they are acting for.

From 1 July 2026, these requirements apply to all real estate agencies across Australia.

What does this mean for buyers and sellers?

If you're buying or selling property, Peterswald may be required to complete identity verification before we can provide certain real estate services. These checks are now a legal requirement and form part of the standard property transaction process. While this may be a new experience for many clients, our team will guide you through each step and explain what information is required.

What information may you be asked to provide?

As part of our customer due diligence obligations, we may ask you to provide information including:

• Your full name
• Your date of birth
• Your residential address

To verify these details, you will typically be asked to provide a current Australian driver's licence or passport. In some circumstances, we may also request proof of your residential address. If you're buying or selling through a company, trust or another legal entity, we may also need information about the ownership and individuals who control that entity. This enables us to meet our obligations under the new legislation.

Help keep your transaction moving

Providing your identification and any requested information as early as possible can help avoid unnecessary delays throughout your property transaction. By completing these checks promptly, we can continue assisting you without interruption and keep your sale or purchase progressing smoothly.

Your privacy matters

We understand that providing personal information is an important matter, and we are committed to handling it with care.

Identity verification completed under the AML/CTF legislation:

• Is not a credit check.
• Will not affect your credit score.
• Is handled securely in accordance with Australian privacy laws.

Any personal information collected is used solely to meet our legal obligations and is managed in line with our privacy responsibilities.

We're here to help

We understand these new requirements may raise questions, particularly if you're buying or selling property for the first time under the updated legislation. Our team is here to make the process as straightforward as possible. If you have any questions about the new AML/CTF requirements or what they mean for your property transaction, please don't hesitate to get in touch with Peterswald.

We're committed to providing trusted guidance and a seamless experience every step of the way.