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The extension of Anti-Money Laundering and Counter-Terrorism Financing rules to real estate services has been welcomed, with businesses urged to prepare early by developing clear compliance strategies.
BNDRY has welcomed the new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws being tabled in Parliament, with the changes set to take effect from July next year.
The new laws will extend financial crime compliance obligations to real estate and conveyancing, with the industries to start being regulated from 1 July 2026.
This means that any business conducting services related to the sale, purchase, and transfer of real estate will be considered a “reporting entity” and will need to ensure compliance with AML/CTF laws.
BNDRY, a software company that provides an intelligence platform for compliance workflows and customer risk data, said the reforms were a positive change.
John Rayment, CEO of BNDRY, said the release of the new rules means that organisations can now begin to create a concrete plan for compliance, following “uncertainty” within the industry.
“These regulations are common in other industries and countries, and there is no reason why they cannot be implemented in Australia’s advanced and highly successful real estate industry,” he said.
Since businesses must create their own AML/CTF compliance strategy, Rayment said the agency should form a dedicated working group or leadership team.
“This could include business leaders, on-ground agents, and engaging legal advisers,” he said.
“Such a group can help shape strategy and ensure a smooth transition to compliance with the act.”
He also said that businesses should strive to integrate the strategy into their existing processes.
“Complying with the regulations may at first seem onerous, but good solution providers will remove operational complexity,” he said.
“Solutions should integrate smoothly with current systems and processes, without disrupting the business too much.”
Rayment advised real estate businesses to start developing their compliance programs early, noting that early, strategic engagement helps businesses adapt more smoothly.
“Education, training, testing, and refinement are key to successfully implementing a new financial crime compliance program,” he said.
Australia’s AML/CTF reforms are edging closer, with Tranche 2 sectors set to face new compliance obligations by mid-2026. Lawyers, accountants, real estate agents and trust service providers are among those in the spotlight.
To help businesses prepare, Captivate Events will host AML Edge 2025, the only national conference dedicated to Tranche 2 reforms. The event will feature regulators, compliance experts and industry leaders sharing practical strategies and insights.
With deadlines looming, AML Edge 2025 offers professionals the chance to get ahead. Learn more about the reforms at Captivate.
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