03/07/2026
Anti-Money Laundering & Counter-Terrorism Financing Laws Explained
The property industry has just changed — here's what the new AML laws actually mean.
First, what is it? AML/CTF stands for Anti-Money Laundering and Counter-Terrorism Financing — the rules designed to stop criminal money moving through the economy. Banks have followed them for years. From 1 July 2026, they now extend to property (the “Tranche 2” reforms).
Who it affects: buyer's agents, real estate agents, conveyancers, lawyers and accountants — essentially anyone helping you buy or sell.
Why: to help prevent money laundering through property, disrupt financial crime, and bring Australia in line with international standards.
What it means for you: the big one is mandatory identity verification — often called “Know Your Customer,” or KYC. You'll be asked to verify your identity through the buying process (not just once), and in some cases to show where your funds have come from. If you've opened a bank account, it'll feel familiar — quick, and usually one-off.
Nothing here is cause for concern. It's the law, every reputable professional has to do it, and having your ID ready simply keeps things moving.
At LMD, we're already set up for it — so it's one less thing for you to think about.
Buying soon and want it made simple? Get in touch.