24/03/2026
MONEY LAUNDERING
NEW LAWS TO TAKE EFFECT 1 JULY 2026
FOR CONVEYANCING TRANSACTIONS
The Australian government is implementing significant updates to the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regime, with new obligations starting on 31 March 2026 for existing reporting entities and 1 July 2026 for new "Tranche 2" entities. The changes shift from a strict "check-box" compliance model to an outcomes-focused, risk-based approach, aimed at closing regulatory gaps and aligning with international FATF standards.
Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws in Australia are implemented to deter, detect, and disrupt money laundering and terrorism financing, protecting the financial system from criminal exploitation. They serve to meet international standards (FATF), minimize economic risk, and provide intelligence to law enforcement
All Legal Firms and Conveyancers will be required to comply and clients will have more paperwork to complete on top of the verification of identity in place presently from 1 July 2026.
We will be utilising the InfoTrack System to facilitate these changes in the Law. All conveyancing clients will be onboarded into the system and our firm will be required to manage its obligations, report to the regulator at risk transactions and retain the information for 7 years and further provide an annual report to the regulator.
Conveyancing is no longer a simple process as we navigate the new Australian rules. You can get more information from the AUSTRAC
The Australian government is implementing significant updates to the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regime, with new obligations starting on 31 March 2026 for existing reporting entities and 1 July 2026 for new "Tranche 2" entities. The changes shift from a strict "check-box" compliance model to an outcomes-focused, risk-based approach, aimed at closing regulatory gaps and aligning with international FATF standards.
Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws in Australia are implemented to deter, detect, and disrupt money laundering and terrorism financing, protecting the financial system from criminal exploitation. They serve to meet international standards (FATF), minimize economic risk, and provide intelligence to law enforcement
All Legal Firms and Conveyancers will be required to comply and clients will have more paperwork to complete on top of the verification of identity in place presently from 1 July 2026.
We will be utilising the InfoTrack System to facilitate these changes in the Law. All conveyancing clients will be onboarded into the system and our firm will be required to manage its obligations, report to the regulator at risk transactions and retain the information for 7 years and further provide an annual report to the regulator.
Conveyancing is no longer a simple process as we navigate the new Australian rules. You can get more information from the AUSTRAC website
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