2026 will bring important changes to how property professionals operate in Australia. If you are buying or selling a home, you may hear terms like AML/CTF obligations or AUSTRAC compliance mentioned more often. At Mosaic Settlements, we believe it is important for our clients to understand these developments and why they matter.
At its core, the Australian government is updating the Anti-Money Laundering and Counter-Terrorism Financing Act to extend protections and increase transparency across more industries. From July 1, 2026, professionals involved in brokering real estate transactions will be required to meet new AML/CTF obligations. These reforms are designed to help prevent serious financial crime and safeguard consumers and the property market as a whole.
Which Transactions Are Affected
Under the new rules, providing a designated service related to real estate means you are offering a service that must be regulated by AUSTRAC. This includes brokering the sale, purchase, or transfer of property for a buyer or seller as part of a business. Whether you are a traditional agent or involved in transactions without an agent, such as direct sales by property developers, the reforms may apply.
Both buyers and sellers in a transaction are considered customers of the same agent under these rules, which makes the need for proper compliance and identity checks essential for all parties involved.
What The Reforms Will Require
There are six main areas of obligation that soon-to-be regulated professionals must address. These include:
Enrol With AUSTRAC
Real estate professionals who provide designated services must enrol with AUSTRAC by 31 March 2026 and begin complying with their AML/CTF obligations from 1 July 2026.
Develop an AML/CTF Program
Professionals must develop and maintain an AML/CTF program that reflects the specific risks of their business. This program sets out how compliance is achieved, how risks are monitored, and how suspicious activity is managed.
Train Staff
Personnel involved in settlement processes will need to be ready for these changes. This includes training staff on compliance and ensuring everyone understands how to identify and respond to risk.
Know Your Customer
One of the key pillars of the reforms is stronger customer due diligence. This means collecting and verifying identification documents, understanding the sources of funds, and monitoring ongoing behaviour where necessary.
Record Keeping
Professionals must keep accurate records that demonstrate compliance with AML/CTF obligations, from customer due diligence through to reporting.
Reporting Unusual Activity
Certain transactions and suspicious matters must be reported to AUSTRAC. Reporting plays a vital role in helping authorities detect and prevent financial crime in the property sector.
What This Means for You
For buyers and sellers, these reforms will promote greater transparency and protection. When property professionals are required to verify identities and report suspicious activity, the entire system becomes safer. Money laundering and illegal financial behaviour can happen anywhere, and real estate has been recognised as a potential risk area if not properly monitored.
These changes do not change your rights as a buyer or seller, but they do mean that professionals such as real estate agents and settlement agents will be taking extra steps to verify information and protect you throughout the transaction.
Start Preparing Now
Although the reforms take effect in mid 2026, planning ahead is essential. If you are planning to buy or sell property in the coming year, talking to your settlement agent early can help ensure that all necessary documentation and identity checks are organised in a timely way.
At Mosaic Settlements, we stay informed on these developments so you don’t have to. We are here to make the settlement process as clear and stress free as possible. If you have questions about how AML/CTF reforms may affect your property transaction, reach out to our team for personalised support.
