New AML/CTF Requirements for Real Estate

From 1 July 2026, new requirements under the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act apply to real estate services.

These reforms are designed to strengthen Australia’s financial system by helping prevent serious financial crimes. As part of these changes, real estate businesses are now required to undertake Customer Due Diligence and verify the identity of clients involved in certain property transactions.

At Lease Equity, we are committed to making this process as straightforward, secure, and efficient as possible while continuing to deliver the high-level service our clients expect.

What this means for you:

Currently, if you are selling/purchasing a property with Lease Equity, we may be required to collect and verify certain information before we can proceed with your transaction. Depending on the nature of your transaction, we may ask you to provide:

• Proof of identity
• Confirmation of address
• Information about directors, shareholders, trustees, beneficiaries or other individuals who own or control a company, trust or other legal entity
• Information regarding the source of funds or source of wealth where required under the legislation
• Additional documentation where necessary to satisfy our legal obligations

For most clients, the verification process is simple and only takes a few moments to complete.

Transactions that may require verification:

The AML/CTF requirements apply to a range of property services, including:

• Buying and selling property.
• Property auctions.
• Long-term leases (30 years or more).
• Debt and structured finance transactions.
• Capital advisory services.
• Other property-related services where required by law.

If your transaction falls within the scope of the legislation, our team will advise you of the information required.

Our verification process and protecting your information:

To make the process as efficient as possible, Lease Equity may ask clients to complete their verification using our secure digital verification platform, AMLHub.

AMLHub allows clients to upload identification documents and complete verification online and on-the-go, reducing paperwork and minimising delays.

Any information collected for AML/CTF purposes is handled securely and in accordance with applicable privacy legislation. Information is collected only where required to meet our legal obligations and is stored using secure systems and processes. We understand the upmost importance of protecting your personal information.

How you can help:

If we contact you requesting AML/CTF information, we encourage you to respond as soon as possible.

Providing the required documentation early allows us to complete the verification process promptly and helps keep your transaction progressing smoothly.

Learn more:

Further information about Australia’s Anti-Money Laundering and Counter-Terrorism Financing framework is available from AUSTRAC.

If you have any questions about these requirements or the verification process, please contact the Lease Equity team. We’re here to help and will guide you through every step of the process.

Frequently Asked Questions:

I have previously worked with Lease Equity – why do I need to provide identification now?

Australian law now requires real estate businesses to verify the identity of clients before carrying out certain designated property services. This helps reduce the risk of money laundering and financial crime. Regardless of if we’ve previously worked together, we will need to reconfirm and record them.

What if I’m purchasing or selling through a company or trust?

Where a company, trust or other legal entity is involved, we may need additional information to identify the individuals who own or control that entity, as required under the legislation.

Will this delay my transaction?

For most clients, verification is quick and straightforward. Providing the requested information promptly will help avoid unnecessary delays.

Will every client need to complete verification?

If you are buying or selling property, yes – customer identification and verification is required under the AML/CTF legislation.

If you are leasing property, not currently. At this stage, standard leasing transactions do not generally require AML/CTF verification. However, should this change, we’ll let you know exactly what information is needed and guide you through the process.

What if I do not provide the information?

Under Australian AML/CTF legislation, Lease Equity is legally required to complete customer identification and verification before providing certain real estate services. If the required information is not provided, we may be unable to proceed with your transaction or continue acting on your behalf until our verification obligations have been met.

If you have any concerns about the information being requested, please contact our team. We’ll explain why it is required and work with you to make the process as straightforward as possible.