Important information for buyers and sellers

From 1 July 2026, new Australian Anti-Money Laundering and Counter-Terrorism Financing laws will apply to property transactions.

These laws are designed to help prevent criminal activity such as money laundering and terrorism financing by making sure everyone involved in a property transaction can be appropriately identified and verified.

What this means for you

If you are buying or selling a property, you may be asked to complete a Customer Due Diligence, or CDD, process before your transaction can proceed.

This is a standard verification process that helps confirm your identity and, where relevant, understand who owns or controls an entity such as a company or trust.

In some cases, additional checks may be required depending on the transaction type, ownership structure or level of risk.

Why we need this information

By law, we are required to meet AML/CTF obligations when handling property sales.

We collect this information so we can:

• Confirm your identity
• Understand the nature of the transaction
• Meet our legal and compliance obligations
• Help progress your purchase or sale as smoothly as possible

What you may be asked to provide

Depending on your circumstances, we may ask for details such as:

• Your full name, date of birth, occupation and residential address
• Identification details, such as a driver licence or other accepted ID
• Information about companies, trusts or other legal entities involved in the transaction
• Details about the nature and purpose of the transaction
• Evidence relating to source of funds and/or source of wealth

We will be able to let you know exactly what is required for your transaction.

How your information will be used

Your information will be collected, processed and retained for the purpose of meeting AML/CTF legal obligations. This may include identity verification, risk assessment, compliance record-keeping and reporting requirements to AUSTRAC.

Records will be retained for the period required by law.

Protecting your personal information

We will only collect personal information that is reasonably necessary to meet AML/CTF requirements.

Your information will be handled in line with our Privacy Policy and Personal Information Collection Statement.

Important to know

If the required information is not provided, your sale or purchase may not be able to proceed until it is received.

Rest assured that we will be able to guide you through the process and help ensure your property transaction progresses smoothly.