Understanding the new anti-money laundering requirements
From 1 July 2026, all real estate agencies across Australia will be required to conduct anti-money laundering checks on buyers and sellers of property, long-term leases, and anyone else who receives ‘designated services’ in order to identify the ownership behind clients. This includes companies, individuals, trusts, etc. Agencies are required by law (AML/CTF Act 2006) to conduct identity verification on all relevant individuals.
Before we can proceed with listing and selling your property, we will need to verify certain details about you, your purchasing entity, and, in some cases, the source of funds for the transaction.
This applies to all clients. Under the new requirements, we are required to complete this process even if we already know you or have acted for you before.
Ray White Special Projects Qld will be using AMLHub, a specialist compliance platform, to collect and verify the required information securely.
These requirements apply across the industry and are designed to help protect Australia’s financial system and reduce the risk of money laundering, terrorism financing and other serious financial crime.
Why do we collect this information?
If you are purchasing or selling your home, your real estate agent is required to complete the Customer Due Diligence (CDD) process. This process involves verifying a customer’s identity before providing a regulated service. This may include confirming identity, understanding who owns or controls the person or entity involved in the transaction, and taking additional steps where a customer or transaction presents a higher level of risk.
What information may be required?
Depending on the ownership structure and the nature of the transaction, your Ray White representative, or the AML provider may request information or evidence relating to the following:
Companies, trusts and other entities
Where a transaction involves a company, trust, partnership, self-managed super fund or other legal entity, we may also need to collect information relating to the ownership and control of that entity.
This may include details regarding:
Supporting documentation may also be required depending on the circumstances.
For vendors
Before providing certain designated services in connection with the sale of a property, we may be required to verify the identity of the vendor and, where applicable, establish the ownership and control of any entity involved.
For buyers
Similarly, before providing certain designated services in relation to a purchase transaction, we may be required to verify the identity of the purchaser and confirm the ownership and control of any company, trust or other entity involved.
When can services commence?
Under the AML/CTF Act, RW Special Projects Qld may be unable to commence certain designated services until the required Customer Due Diligence has been completed.
Depending on the circumstances, this may include services relating to:
To help avoid unnecessary delays, we encourage clients to provide any requested information as early as possible.
Protecting your personal information
RW Special Projects Qld is committed to protecting your privacy and handling personal information in accordance with the Privacy Act 1988 and the Australian Privacy Principles.
Any information collected as part of our AML/CTF obligations is used solely for the purpose of complying with applicable laws.
Frequently asked questions
Why am I being asked to provide identification?
From 1 July 2026, real estate businesses are required to undertake Customer Due Diligence under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. These checks help verify the identity of clients and support the integrity of Australia’s financial system.
What documents will I need to provide?
In most cases, clients will be asked to provide a current government-issued photo identification document, such as a passport or driver’s licence. Depending on the circumstances, additional documents may be required to verify your address or establish the ownership and control of a company, trust or other entity.
Do these requirements apply to both buyers and sellers?
Yes. The requirements may apply to vendors, purchasers and entities acting on their behalf where RW Special Projects Qld is providing a designated service.
Will this affect my credit score?
No. Identity verification undertaken for AML/CTF purposes is not a credit check and will have no impact on your credit score.
I’ve worked with RW Special Projects Qld before. Will I still need to complete these checks?
Yes. Depending on the transaction and regulatory requirements, we may need to collect and verify your information again to ensure our records are accurate and up to date.
What happens if I choose not to provide the requested information?
If the requested information is not provided, RW Special Projects Qld may be unable to provide the regulated service or proceed until the required information is received. This is because completing customer due diligence is a legal requirement before certain real estate services can be provided.
How will Ray White handle your personal information?
Ray White will collect only the personal information reasonably necessary to meet its AML/CTF and related legal obligations. OAIC guidance also states that businesses should not retain copies of full identification documents for AML/CTF record-keeping purposes unless another law requires them to do so.
Refer to our privacy statement for more information.
www.raywhite.com/franchisee-privacy-policy