Navigating Australia’s New AML Laws: What Real Estate Professionals Need to Know Now

Keeping Your Property Business Secure Under the Latest AML Law Changes

If you run a real estate agency or work across the Australian property sector, you’ve probably heard the buzz about the new anti-money laundering (AML) laws that just kicked in on 1 July 2026. These changes are a massive step forward in protecting our property market, but they also mean a bit of extra homework for you and your team. We want to break down exactly what this means for your day-to-day operations so you can feel completely in control.

At Law Team, our focus is always to help you understand and adapt to the law easily. We’re here to help you navigate these changes so you can focus on building your empire. Let's take a look at how we can tackle these updates proactively. 

What are anti-money laundering laws in Australia?

Australia's anti-money laundering and counter-terrorism financing (AML/CTF) framework is designed to stop serious crime from sneaking dirty money into our economy. Organised crime syndicates often target the property market to hide illicit profits, which distorts the market for everyone else. In fact, financial crimes regulator AUSTRAC notes that more than $60 billion in illicit profits is laundered through the Australian economy each year.

To close these gaps, the government has expanded the rules as of 1 July 2026. Tens of thousands of real estate agents, conveyancers, accountants and lawyers are now formally part of the regime, with more eyes on high-risk transactions to stop dirty money at the door.

What do these new AML law changes mean for the real estate industry?

For you and your property business, it means adopting a few new, routine habits to protect your day-to-day operations. When you work with buyers and sellers, you're now legally required to take reasonable steps to identify and verify who they are.

In practice, you will need to ask standard questions about their source of funds or broader wealth. For example, you might want to examine how a buyer obtained the funds for a purchase, whether it was from salary, savings, gifts, or the sale of other assets. While this might feel like extra paperwork, it is simply the new industry standard to ensure transactions are transparent and secure.

How can real estate and property businesses prepare for these changes?

Because the laws are already in force, the best way to gain total certainty is to take fast, proactive action. To stay compliant, you need to have an internal AML/CTF programme, designate a compliance officer and train your staff to spot and report suspicious behaviour.

Most importantly, mark your calendar for 29 July 2026. While your daily obligations have already started, you have until this date to officially enrol your business with AUSTRAC. Enrolment is a strict legal requirement, so checking this off your list now will ensure you avoid regulatory action or enforcement down the track.

How can Law Team help you navigate these new AML laws?

We know that running a fast-paced property business leaves very little time for decoding new regulatory updates. That’s why our dedicated property legal team at Law Team is right here to give you expert, straightforward guidance.

We can help you build a simple compliance programme tailored to your agency, train your staff, and ensure your AUSTRAC paperwork is perfectly sorted before the deadline hits. Get in touch with us today, and let’s make sure your business is completely secure, compliant, and ready for the future.

---

About the Author: Erin Vassallo

Erin Vassallo is the Principal Solicitor and founder of Law Team, a values-led law firm with a strong reputation across New South Wales and Queensland. With over two decades of experience in commercial, construction, and property development law, Erin is a trusted advisor to developers, landowners, and business owners navigating complex projects and legal risk.

Her hands-on experience includes joint ventures, structuring development deals, contract negotiation, risk mitigation, and project governance across residential, commercial, and mixed-use developments. Erin holds qualifications in law, political science, mediation, and disruptive strategy (Harvard Business School) and is the founder of Certified BCorp Law Team, committed to ethical business practices and social impact.

Frequently Asked Questions

• When did the new AML laws officially start for the property sector?

  The new laws came into effect on 1 July 2026, meaning your legal obligations to verify clients are already live. However, you have a short window until 29 July 2026 to ensure your business is officially enrolled with AUSTRAC.

• What details do we actually need to collect from property buyers and sellers?

  You will need to verify their identity using standard documents like a passport or driver’s licence. You'll also need to ask basic questions about the nature of the transaction and where their funds came from, such as personal savings or investments.

• What happens if our agency misses the AUSTRAC enrolment deadline?

  Enrolment is a strict legal requirement for anyone providing these designated property services. Continuing to operate after 29 July 2026 without registering means you risk breaching the law, which can lead to serious regulatory action and enforcement from AUSTRAC.

• Do we need to hire someone new to act as our compliance officer?

  Not necessarily, but you do need to formally appoint an AML compliance officer from within your team to oversee your programme. We can help you define this role and set up a clear, simple workflow that fits naturally into your existing business structure.