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Real estate professionals in the ACT will soon begin training to prepare for sweeping anti-money laundering reforms that will require agents, buyer’s agents and developers to report suspicious activity and enrol with Australia’s financial intelligence agency, AUSTRAC.
The training, delivered both in-person and online from 22 July, in partnership with compliance platform First AML, will help agents understand their obligations under the AML/Counter-Terrorism Financing (AML/CTF) regime, which comes into force from 1 July 2026.
The incoming legislation will bring Australia into closer alignment with global Financial Action Task Force (FATF) standards, which mandate AML/CTF compliance across sectors including real estate.
Australia remains one of the last major jurisdictions yet to impose such obligations on property professionals.
Real Estate Institute of ACT (REIACT) chief executive, Maria Edwards, said the upcoming legislation would reshape the industry, warning that failure to comply could result in penalties.
“The introduction of the legislation in 2026 will bring major changes to the way real estate businesses operate,” Edwards explained.
“Consumers will be required to provide increased levels of identification and there will be costs associated with compliance for agencies, no doubt a portion of which will be passed on to consumers.
“Before the implementation of the reforms, all agencies will need to come up with new internal policies and risk management activities. Non-compliance will attract significant penalties.
Edwards added that the REIACT, along with its national and state counterparts, has been actively involved in consultations with AUSTRAC for the past year to ensure the regulatory framework reflects the operational realities of the real estate sector.
The training will cover due diligence, internal auditing, and agent responsibilities under the legislation, with a focus on making compliance practical and scalable for businesses of all sizes.
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