AML/CFT stands for Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF). It refers to a set of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income (money laundering) and to stop the financing of terrorist acts.
Buying or selling a home should feel exciting — not confusing. At Thrive Real Estate we’re all about making your property journey clear, supported and rewarding. With new AML/CTF rules coming into effect from 1 July 2026, there are a few new important and necessary steps when you’re buying or selling property in Australia.
These changes aren’t about making things more complex and difficult — they’re about helping protect genuine honest and hard-working buyers and sellers like you and ensuring that property remains a safe and trusted investment.
Real estate professionals — including agents and buyer’s agents — will begin operating under updated AML/CTF laws. That means when you buy or sell through a property professional, there will be some extra verification steps in place.
What you will notice as a Buyer
When you’re purchasing a property:
- You’ll be asked to verify your identity: This might include presenting photo ID like a driver licence and/or passport so the agent can confirm who you are.
- The agent may ask about your source of funds: Especially if the transaction is higher risk, agents will need to understand where funds are coming from to meet their legal obligations.
- You’ll be treated with respect and clarity: We’ll always explain why we ask for information and how it helps protect you and the broader community.
These checks are like what you’d expect at a bank when opening a new account — it is simply part of keeping the property market secure.
What you will notice as a Seller
If you’re selling:
- You’ll also verify your identity: Just like a buyer, sellers will provide photo ID so we can correctly identify all parties.
- We are always available to help make sense of it all: Changes to regulations don’t mean changes to support — we’re here to guide you every step of the way.
- No surprises: All compliance steps will be explained in plain language and tailored to your situation, not thrown at you as legal jargon.
Why These Extra Steps are IMPORTANT
These AML/CTF changes are designed to keep your property safe from misuse — particularly from activities like money laundering or financial crime that can distort values or impact local communities. They’re being introduced as part of a modernisation of Australia’s laws to better protect everyday hard-working Australians.
In essence:
- Your identity is protected
- You’re part of a more transparent process
- Your financial safety is taken seriously
How Thrive Real Estate Supports You
At Thrive Real Estate, we believe:
- Your property experience should be simple and stress-free — no matter how the rules change.
- Communication should be personal, not robotic — we’ll always talk you through what is required and why.
- You deserve confident decisions — with clarity on forms, timelines and next steps from start to settlement.
Derick has decades of real estate experience in Perth — and Thrive Real Estate is here to help you feel confident and comfortable throughout the entire property process.
***********
These AML/CTF changes aren’t here to complicate your property goals — they’re here to protect them.
Whether you’re buying your first home, selling a family property, or investing in your future, we’ll walk you through anything that’s new or unfamiliar. If you have questions about how these changes affect you, we’re always just a phone call or email away.