Anti-Money Laundering (AML) & Client Verification FAQs
At TOWN, protecting our clients, community and the integrity of the property industry is incredibly important to us.
From 1 July 2026, real estate agencies across Australia are required to comply with new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislation.
These laws introduce identity verification and client due diligence requirements for property transactions and certain real estate services.
We understand these requests may feel unfamiliar within real estate. Our team is here to make the process as simple, secure and seamless as possible while continuing to deliver the first-class service TOWN is known for.
What is AML/CTF?
AML/CTF stands for Anti-Money Laundering and Counter-Terrorism Financing.
These laws are designed to help prevent criminal activity, fraud and the movement of illicit funds through industries such as banking, law, accounting and now real estate.
As part of these obligations, real estate agencies are required to verify the identity of clients and better understand who they are acting for before providing certain services.
The legislation applies to all real estate agencies across Australia from 1 July 2026.
Why are you asking for my personal information?
Under the AML/CTF laws, we are required to verify the identity of our clients before we can provide certain real estate services.
This means we may need to collect information such as your full name, date of birth and residential address, along with identification documents.
These requirements apply across the Australian real estate industry and are designed to help protect against fraud, money laundering and financial crime.
Why do you need information about my company, trust, partnership or charity?
Where a property is being purchased, sold or held through an entity such as a company, trust, partnership or charity, we are legally required to understand the ownership and control structure behind that entity.
This may include collecting information relating to directors, trustees, beneficial owners or individuals who exercise effective control.
These requirements form part of the AML/CTF legislation and apply to all Australian real estate agencies.
Is this information mandatory?
Yes. Under the AML/CTF Act, we are legally required to collect and verify certain information before we can provide designated real estate services, including the sale, purchase or long-term leasing of property.
Without this information, we may be unable to act on your behalf.
Is this a TOWN policy or a legal requirement?
This is a legal requirement under the AML/CTF Act and applies to all real estate agencies across Australia from 1 July 2026.
Similar obligations also apply to industries such as banking, law and accounting where designated services are provided.
What will you do with my information?
Your information will only be collected and used for the purposes of complying with our obligations under the AML/CTF Act, including identity verification and associated compliance requirements.
TOWN takes privacy and data security seriously and handles all information in accordance with applicable privacy laws.
Where will my information be stored?
AML verification information is securely stored within the AMLHUB platform, a specialist Australian AML/CTF compliance system used by TOWN.
AMLHUB is ISO/IEC 27001:2022 certified, which is an internationally recognised standard for information security management.
For more information, please refer to the AMLHUB Privacy Policy.
How long will you retain my information?
Under the AML/CTF Act, we are required to retain certain records and verification information for a period of seven years.
What happens if I choose not to provide this information?
If the required information is not provided, we may be unable to onboard you as a client or provide our services.
These obligations apply to all Australian real estate agencies and are not unique to TOWN.
We’ve worked together before. Do I still need to complete these checks?
Yes. The AML/CTF legislation requires us to conduct these checks for all clients, including existing or returning clients.
In many cases, we may simply need to confirm or update the information we already have on file.
Will this slow down my sale or purchase?
No. This process will work in parallel with your purchase or sale.
In most cases, the verification process is quick and straightforward, particularly when information is provided early.
Completing your AML verification promptly will help avoid delays.
Who can I contact if I have questions?
Our team is here to help.
If you have any questions about the AML/CTF process or the information being requested, please contact TOWN directly and we will happily guide you through the process.