AML/CTF: What You Need to Know
What are the AML/CTF laws?
Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws are being introduced to the Australian real estate industry to help combat financial crime and improve transparency in property transactions.
As a real estate agency, Complete Commercial is required to take reasonable steps to verify the identity of our clients and understand who we are acting for. In some circumstances, we may also need to collect additional information or documentation to meet our legal obligations.
While these new requirements introduce some additional checks, they are designed to protect clients, businesses, and the wider community by helping prevent the misuse of property transactions for illegal activities.
FREQUENTLY ASKED QUESTIONS
For most clients, the impact will be minimal. The main change is that real estate agencies and other professionals involved in property transactions will be required to complete identity verification and customer due diligence checks.
These requirements have applied to banks and financial institutions for many years and will extend to the real estate industry from 1 July 2026. The reforms aim to strengthen the integrity of property transactions and help prevent financial crime across Australia.
For more information, visit the AUSTRAC website
If you are selling a property, we will generally need to complete the required identity checks before we can commence providing services and marketing your property.
If you are purchasing a property, identity verification will typically be completed once your offer has been accepted and a contract has been signed. These checks must be completed before the transaction can proceed to settlement.
If you are selling a property, Complete Commercial will need to verify your identity and confirm your authority to sell the property before we can provide certain services.
As part of this process, you may be asked to provide:
- Proof of identity (such as identification documents)
- Proof that you own the property or have authority to sell it
These checks help protect property owners from fraud and ensure we meet our legal obligations under AML/CTF legislation.
Our team will guide you through the process and let you know exactly what information is required.
For most buyers, purchasing a property is one of the biggest financial commitments they will make. AML/CTF checks help ensure the process is secure and compliant.
Once your offer has been accepted and a contract has been signed, you may be asked to provide:
- Proof of identity to confirm who you are
- Information about the source of your funds (for example savings, inheritance, or equity)
These requirements are a legal obligation and help support safe and transparent property transactions.
We work with conveyancers and other reporting professionals to help streamline the process, which may reduce the need for you to provide the same information more than once.
Our team will guide you through each step based on your circumstances and let you know exactly what is required.
FREQUENTLY ASKED QUESTIONS
Yes —real estate agents are still required to complete their own verification process, even if you have already provided information to your conveyancer or another professional.
While we work closely with conveyancers and other reporting professionals to help streamline the process and reduce duplication where possible, Complete Commercial must still meet its own legal obligations under AML/CTF laws. This includes verifying your identity and maintaining appropriate records for our files.
We understand this may feel repetitive, but these checks are legally required to ensure your transaction is properly verified and compliant.
Complete Commercial uses First AML, a secure third-party compliance platform, to assist with identity verification and customer due diligence checks required under AML/CTF laws.
First AML collects and processes the information required to complete these checks, which may include identification documents and a biometric “liveness” verification (a quick selfie-based check to confirm your identity matches your ID).
Where appropriate, we may work with other reporting professionals involved in your transaction to help reduce duplication of information. However, Complete Real Estate remains responsible for meeting its own AML/CTF obligations and may request additional information where required to satisfy our verification and record-keeping requirements.
All information is handled securely in accordance with strict privacy and data protection standards and is used solely for the purpose of meeting legal compliance obligations.
AML/CTF checks are completed through First AML, a secure online platform. You will receive a link via SMS or email when it’s time to complete your verification.
The process takes only a few minutes and can be completed on a phone or computer with a camera. You will be asked to:
- Confirm your contact details
- Upload a photo of your ID
- Complete a quick biometric “liveness” check (selfie scan)
Once submitted, First AML verifies your information and notifies Complete Commercial when the process is complete.
If needed, our team can assist you in the office to complete the process.
If you are acting on behalf of a company, trust, partnership or other organisation, additional AML/CTF checks will be required to verify the entity and the people who control it.
Depending on your situation, you may be asked to provide:
- Details of the entity (such as company, trust or organisation name and registration information)
- Documents confirming authority to act (such as company extracts, trust deeds or partnership agreements)
- Information about directors, trustees or other individuals with ownership or control
- Identification for individuals acting on behalf of the entity
We use First AML, a secure verification platform, to assist with this process. Our team will guide you through exactly what is required based on your circumstances.
These checks are a legal requirement and must be completed before your transaction can proceed.
First AML — a simple, secure process
Complete Commercial uses First AML, a secure third-party platform that supports identity verification and due diligence checks required under AML/CTF legislation. If you have any questions about AML/CTF requirements or what you need to provide, please contact the Complete Commercial team — we’re here to help guide you through the process.
TO VIEW THE FIRST AML WEBSITE:
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