19/06/2026
Important client update: New AUSTRAC requirements from 1 July 2026
From 1 July 2026, Settlement Agents and Conveyancers across Australia will need to comply with new Anti-Money Laundering and Counter-Terrorism Financing obligations administered by AUSTRAC.
For clients buying, selling or transferring property, this may mean we need to collect some additional information and documents as part of your matter.
This can include:
- Proof of identity
- Confirmation of your residential address
- Details for companies, trusts or other entities involved
- Information about the source of funds for the transaction
- Authority-to-act information where someone is acting on behalf of another person
- Further documents for matters that require additional review
These requirements are mandatory and will apply to Settlement Agents and Conveyancers providing designated services under the new laws.
These reforms are being introduced to help protect against:
- Money laundering
- Terrorism financing
- Fraud and identity crime
- Criminal misuse of property transactions
At Hanson Property Settlements, we have been preparing for these changes through AML/CTF training, accreditation, compliance planning and risk-management processes so we can continue supporting our clients professionally and with care.
If we ask you for extra information during your transaction, we appreciate your cooperation and understanding.
If you have any questions, please contact the Hanson Property Settlements team.
