Industry News New identity verification requirements start 1 July 2026 30 June 2026 AML/CTF Requirements from 1 July 2026 Our obligations From 1 July 2026, new federal laws will require real estate businesses, along with many other professional service providers, to comply with Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) requirements. These laws will apply to property sales transactions and need to be completed by both the vendor and purchaser. Prior to entering into an agency agreement or sale contract we will be required to: Verify the identity of our clients and relevant partiesConfirm ownership and control for companies, trusts or SMSFsUnderstand the purpose of each transactionAssess and document risksMaintain clear and accurate records We are legally required to complete these checks before we can provide services. Why these checks matter Money laundering is a significant issue in Australia. Criminals can use legitimate businesses and high-value transactions to disguise illegal funds. These funds can support serious criminal activity, including: Drug traffickingHuman exploitationTerrorismLarge-scale financial fraud Strong AML/CTF controls help protect our clients, our business and the broader community by reducing the risk that professional services are misused to move or hide illicit money. Our commitment to responsible data handling We take privacy and data security seriously. Any information you provide will be handled in accordance with: Australian privacy lawsOur professional confidentiality obligationsStrict AML/CTF regulatory requirements Your information will be used only for identity verification, compliance checks and onboarding purposes. Documents and personal details will be stored securely, accessed only by authorised staff, and protected through encrypted systems and controlled processes. Leedwell’s approach We are committed to supporting our clients through these new regulations. Our team will guide you through the process step by step and let you know what information is required. If anything is unclear, please contact your Leedwell representative.