What is the

AML/CTF Law?

What the New AML/CTF Laws Mean for You

Since 1 July 2026, federal law has required every real estate agency in Australia – including Bright Property – to carry out anti-money laundering checks on the people who are buying or selling property with us. These requirements come from the Australian Government and are regulated by AUSTRAC. Please keep in mind that these are standard industry regulations rather than internal Bright Property rules, so no agency has the option to opt out of them.

This page explains what the laws are, why we’re asking, exactly what we’ll need from you, and how your information is protected.

The Short Version

Explained simply by Jimmy Rees for
AML Hub – with a bit of a laugh
along the way.

From 1 July 2026

AML/CTF checks are mandatory for all Australian real estate agencies.

Everyone is checked

Buyers, sellers, and anyone else receiving a designated service.

Beyond normal ID

You’ll be asked about your identity, your source of funds and the nature of the transaction.

You can't opt out

We’re not legally able to act for you until the checks are complete.

What is AML/CTF?

AML/CTF stands for anti-money laundering and counter-terrorism financing. It’s a scheme governed by the Anti-Money Laundering and Counter-Terrorism Financing Act (Cth) 2006 (the Act).

The purpose of the Act is to uncover, deter and disrupt illegal activity – money laundering, terrorism financing, fraud and proliferation financing.

AML/CTF legislation was first introduced in Australia in 1988 and has governed financial institutions, gambling services and payment providers since 2006. The government has now expanded these laws to cover a much broader group of professions, including:

Real estate agents
Lawyers
Accountants
Professional service providers
Dealers in precious stones and metals

Under the Act, the services these professionals provide are known as designated services – and providing one triggers the obligation to run the checks. For a real estate agency, the designated service is the sale, purchase or transfer of real estate.

The purpose of the checks is what the Act calls Customer Due Diligence (CDD) or Know Your Customer (KYC): identifying the ownership behind our clients, so that we know who we are genuinely dealing with. That’s why the checks apply not just to individuals, but to companies, trusts and super funds as well – and to all relevant owners behind them.

At a minimum, what does verifying my identity involve?

For an individual, we’re required to confirm your name, plus your date of birth or residential address. In practice we’ll usually ask for all three so your check clears first time.

That’s the baseline. The sections below cover the additional questions the Act requires us to ask, and the extra documents needed if you’re transacting through a company, trust or super fund.

National Compliance Standards for Your Security

To protect our clients and maintain the highest standards of safety across Australia’s real estate market, we follow mandatory national verification requirements set by the Federal Government under the Anti-Money Laundering and Counter-Terrorism Financing Act (Cth) 2006, regulated by AUSTRAC.

Because these federal regulations apply equally to every real estate agency, law firm, and accounting practice across the country, they must be completed consistently for all clients, even those with whom we have enjoyed long-standing relationships.

When to expect these checks:

Sellers: Completed upon signing your Form 6 appointment.
Buyers: Completed once the contract of sale is executed.

We appreciate your co-operation in helping us keep every transaction secure and compliant.

Why It Matters That You Do This Early

Verification isn’t instant, and nothing can move until it’s done.

How You Can Help Keep Your Transaction on Track

Allow Extra Time: Identity verification is a multi-step process that typically takes a few business days to finalize.
Joint Timelines: Verification applies to everyone involved in the sale or purchase, meaning overall progress relies on all parties responding promptly.
Business & Trust Structures: Transactions featuring trusts, companies, or SMSFs require additional identity checks for each key individual, which adds extra time.
Fast-Track Your Check: Completing your online verification link as soon as it arrives is the single best step you can take to prevent delays.

The single biggest cause of delay is simply information not being sent back. The simplest thing you can do is start as soon as you receive the link.

If You're Selling

You’ll be asked to provide personal information and information about your intended sale to your selling agent. If your buyer is using a buyer’s agent, you’ll need to provide the same information to that agent as well.
You’ll be asked about:

Your identity, occupation, and the countries you’re linked to
Your source of funds and source of wealth
What services you’re seeking from us, and why
Whether you are, or have ever been, a politically exposed person – or have relatives or close associates who are or were
Ultimate beneficial ownership, if you’re selling through a company, trust or super fund

Timing: your verification needs to be complete before we can market your property. This will be initiated once your Form 6 paperwork is signed.

If You're Buying

You’ll be asked to provide personal information and information about your intended purchase to the selling agent – and to your own buyer’s agent, if you’re using one.

You’ll be asked about:

Your identity, occupation, and the countries you’re linked to
Your source of funds – including whether you’re purchasing with cash or finance, and where your funds are coming from
What services you’re seeking from us, and why
Whether you are, or have ever been, a politically exposed person – or have relatives or close associates who are or were
Ultimate beneficial ownership, if you’re purchasing through a company, trust or super fund

Timing: please complete your verification as soon as possible once you have been sent the verification links.

Trusts, Companies and Super Funds

If you’re buying or selling through an entity rather than in your own name, more people need to be verified – and this is where most delays happen.

ENTITY	WHAT'S REQUIRED
Company	Confirmation of nominee directors and shareholders, and the constitution or shareholder agreement outlining the powers that bind and regulate the company. Directors and shareholders may each need to verify individually.
Trust	The trust deed, plus verification for trustees and any non-discretionary beneficiaries.
Self-managed super fund	The trust deed, plus verification for trustees - individual or corporate - and members. Where the trustee is a company, its directors may need verifying too.

Because each individual must be verified separately, an entity transaction can involve several people. If this applies to you, please start as early as possible.

How It Works

Bright Property uses AML Hub, a platform built specifically for real estate AML/CTF verification, to carry out these checks.

You'll hear from AML Hub.

We provide your name, email and mobile number, and they'll contact you to ask a few questions about the property and the purpose of the transaction.

You verify your ID.

You'll receive a secure link by email or SMS for a quick biometric check with your photo ID. If you're meeting one of our agents in person, they can scan your passport or licence in seconds - documents from 120 countries are supported. If biometrics don't suit you, there's a secure portal to upload documents instead.

We can proceed.

Once everyone involved is verified, your listing can go to market, or the purchase can be finalised.

If you receive an email or SMS from AML Hub, it’s legitimate. They contact clients on our behalf. If you’re ever unsure, call our office before clicking anything – we’d always rather you checked.

Your Privacy

Your information is used for one purpose only – meeting our obligations under the AML/CTF Act.

We’re required by law to hold it for seven years, and to handle it in line with the Privacy Act (Cth) 1988. It’s stored on the AML Hub platform, which is certified to the ISO/IEC 27001:2022 international information security standard.

You can also read AML Hub’s Privacy Policy.

If you have any concerns, the REIQ recommends speaking with your agent about how your data is stored and protected.

We’re always happy to talk it through.

These laws are administered by AUSTRAC, the Australian Government agency responsible for financial crime.

FAQs

We know it’s extra paperwork, and we know it can feel intrusive. It isn’t about you – it’s a national obligation that applies to every agency and every client. Our job is to make it as painless as possible.

Can I opt out, or is any of it optional?

No, it’s all required under the AML/CTF Act and governed by AUSTRAC.

Why is it taking so long?

Verification involves identity checks and, in many cases, several people. Where a company, trust or super fund is involved, every director, trustee, shareholder or member may need to be verified individually. The fastest transactions are the ones where everyone responds to their link promptly.

Can you start marketing my property before I'm verified?

No. We’re not legally able to provide the service until your verification is complete, which means the property can’t be listed or marketed.

I've already done this with my bank and my lawyer. Why again?

The Act requires separate assessments across multiple professions, which unfortunately means duplication between banks, lawyers, accountants and agents.

You've worked with me before. Surely you know I'm not a money launderer?

We have – and we appreciate the frustration. But the Act requires these checks on every client, including ones we’ve worked with for years. If you’re an existing client, we may simply need to update what we already hold on file.

Why do you need information about my company or trust?

In those cases the entity is our customer, so we’re required to understand its nature and purpose in dealing with us, and to identify the beneficial owners and effective controllers behind it.

I've had an email from AML Hub. Is it genuine?

Yes – AML Hub carries out these checks on our behalf, and they’ll contact you by email or SMS. If anything looks off, call our office before clicking. We’d always rather you checked.