AUSTRAC has made its first move against unregistered agencies, with real estate businesses now facing daily fines as the regulator warns more infringement notices are coming.
Real estate agencies are now being hit with fines from the Australian Transaction Reports and Analysis Centre (AUSTRAC) after failing to meet mandatory anti-money laundering and counter-terrorism financing (AML/CTF) registration requirements.
AUSTRAC has issued infringement notices to real estate, accounting, and jewellery businesses, carrying fines of up to $21,840 for companies and $4,368 for individuals.
The regulator said penalties will mount each day businesses remain unregistered.
The enforcement action followed AUSTRAC’s August requests for information to businesses that appeared to provide designated services without enrolling with the regulator.
The watchdog has now begun issuing the promised infringement notices to businesses that failed to meet the enrolment requirements within the required 28-day period.
AUSTRAC CEO Brendan Thomas said about 90 per cent of the businesses initially identified as having enrolment concerns had since registered or attempted to do so.
“The small number that continue to ignore their obligations should not expect AUSTRAC to ignore them.
“Real estate shouldn’t be a safe place for criminals to move dirty money. We need to work together to shut them out. If you’re required to enrol with AUSTRAC, do it now.
“If you don’t, you’re not only breaking the law, you risk leaving your business and the sector exposed to criminal exploitation. And if businesses continue to ignore their obligations, AUSTRAC will take action,” Thomas told REB.
On 20 August 2026, AUSTRAC showed that only 17,970 agencies had registered out of about 45,000 offices nationwide.
On 1 October 2026, the number of registered agencies jumped to 18,350.
Thomas said that enrolment was a simple first step, and there was no excuse for failing to take it.
“We are actively looking for businesses that haven’t enrolled and we will issue more infringement notices where necessary, so if you have obligations under the scheme, now is the time to come forward, get in touch with AUSTRAC and get enrolled.”
The AML/CTF regime expanded on 1 July 2026 to include businesses in sectors such as real estate, legal services, accounting, conveyancing, trust and company services, and dealing in precious stones and metals.
According to AML Partners founder John Nguyen, the current infringement notices should end any assumption that businesses can keep delaying action, as AUSTRAC has shown its willingness to enforce the law.
"For real estate agencies, financial exposure can escalate quickly. Non-enrolment penalties can accrue daily, and failures in client checks, compliance governance and reporting create further exposure to enforcement,” Nguyen told REB.
While enrolling with AUSTRAC is the first step, Nguyen said it does not make a real estate business compliant.
"These infringement notices target businesses that failed to enrol with AUSTRAC. But enrolment is only the first step.”
He said that under the regulations, businesses providing designated services must also have an AML/CTF program and risk assessment in place, carry out customer due diligence, report suspicious matters and threshold transactions where they apply, train their staff and keep proper records.
“Businesses need to take their obligations seriously and make sure their compliance measures work in practice. Otherwise, they risk further penalties.”
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