What is AML/CTF?

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.

What is AML/CTF?
Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws are designed to prevent criminals from using legitimate businesses and transactions, including real estate, to conceal illicit funds or support terrorism. Certain real estate services in Australia are subject to AUSTRAC regulation, meaning real estate businesses providing those services must comply with AML/CTF obligations.

Why is Professionals First & Co requesting this information?
Like other real estate businesses across Australia, Professionals First & Co must comply with AML/CTF obligations when providing regulated services. We implement clear processes, supports customers through the requirements process, and aims to lead the industry through strong compliance, transparency, and effective customer communication.

Our AML Compliance Partner
Professionals First & Co has partnered with Livesign to assist us with our AML/CTF compliance obligations. Livesign will send you a link to complete secure electronic identity verification and, where required, will request additional information needed to satisfy AML/CTF requirements.

What is Customer Due Diligence (CDD)?
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 requested?
Depending on the ownership structure and the nature of the transaction, we or our authorised AML provider may request:

  • Your full name, date of birth, occupation, and residential address
  • Details from an identification document to prove identity (such as a driver’s licence or passport)
  • Ownership or control information for a legal entity (evidence of beneficial ownership)
  • Information that helps us understand the nature and purpose of the transaction and, where required, the source of funds/wealth

How will this information be used?
This information is collected so Professionals First & Co can meet its legal obligations, verify identity, assess risk, and help ensure the transaction is legitimate. It may also be used to maintain required compliance records and, where required by law, support reporting obligations to AUSTRAC.

How will we handle your personal information?
Professionals First & Co 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 AML Compliance & Privacy Policy for more information.

What happens if the requested information is not provided?
If the requested information is not provided, Professionals First & Co 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.

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