From 1 July 2026, real estate agents, solicitors, and conveyancers in Queensland are classed as "tranche two" reporting entities under Australia's Anti-Money Laundering and Counter-Terrorism Financing regime. In plain English, that means proper identity verification and source-of-funds checks are now a standard part of buying and selling property.
What is AML and CTF and why is property covered?
AML (Anti-Money Laundering) and CTF (Counter-Terrorism Financing) laws exist to stop criminal or terrorist funds from being washed through legitimate assets. Property has historically been a soft target. The 2024 reforms extended coverage to real estate agents, lawyers, conveyancers, and accountants from 1 July 2026 so the sector matches banks and financial services.
What does this mean at listing?
When you appoint me to sell your home, I will now need to verify your identity, confirm you are entitled to sell the property, and record the information required under the AUSTRAC rules. That usually means a driver licence or passport, a secondary ID, and a quick check against the title. It is a one-off step at the start of the campaign and it is normal.
What does this mean for buyers?
When a buyer signs a contract, the buyer will be identified and, in some cases, asked to explain the source of the deposit and settlement funds. Solicitors and conveyancers will do most of this at the contract stage. Overseas funds or unusual structures will trigger more questions than a straightforward local buyer with a bank loan.
What is a suspicious matter report?
Reporting entities are required to report certain transactions to AUSTRAC, including any transaction they suspect on reasonable grounds relates to money laundering, terrorism financing, or tax evasion. You will not be told a report has been made, and it does not necessarily stop the deal, but it is a legal duty.
Why this actually helps everyone
Because it lifts standards across the board. Buyers and sellers get more confidence that the other party is who they say they are. Titles are cleaner. Fraud is harder. It adds one small step at the start of the process and after that you barely notice it.
What sellers and buyers should do
Have current photo ID ready. Be prepared to briefly explain how you funded the purchase or the deposit. Use a qualified solicitor or conveyancer. If you are structuring through a company or trust, tell your agent and solicitor upfront so the verification is done once, cleanly.
Important note
This article is general information only, not legal advice. Queensland property law changes and every situation is different. Before you act, speak with a qualified solicitor or licensed conveyancer, and verify current requirements with the relevant Queensland Government source (Queensland Government, Queensland Law Society, Office of Fair Trading, or the QBCC where applicable).
Where to from here
Selling and want it handled properly? Book a free appraisal and I will walk you through your obligations end to end. If you just want a fast market read on your home first, Jai can give you an instant estimate.
Frequently asked questions
Thinking of selling in Rochedale?
Get a free appraisal from Junaid Ally. Call 0410 218 499 or visit junaidally.com/appraisal.
