New AML/CTF Rules for Conveyancing in Australia
From 1 July 2026, conveyancers providing certain designated services are required to comply with Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws.
The reforms bring conveyancers, along with certain legal, accounting and real estate professionals, under AUSTRAC’s regulatory framework.
What does this mean for property clients?
For most buyers and sellers, the conveyancing process will remain largely the same. However, clients may now be asked to provide additional information as part of identity verification and customer due diligence.
Depending on the transaction, this may include:
- additional identification documents;
- information about companies, trusts or beneficial owners;
- details about the purpose of the transaction; and
- in some cases, evidence relating to the source of funds or source of wealth.
These requests are part of the new compliance requirements and do not necessarily indicate any concern about the client or transaction.
H2 Conveyancing
H2 Conveyancing is implementing the required AML/CTF procedures in line with AUSTRAC guidance.
Clients may notice some additional verification steps during their property transaction. Providing requested documents early can help avoid unnecessary delays and keep settlement progressing smoothly.
The new framework is designed to strengthen the integrity and security of Australia’s property and financial system.
For further information, please visit the AUSTRAC website.
This article provides general information only and does not constitute legal advice.