What’s new about Anti-Money Laundering and Counter-Terrorism Financing?

From 1 July 2026, all Australian conveyancers (and also all lawyers who practice in property law) will become subject to the obligations of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth).  Please see Professional services (Reform) | AUSTRAC for more information about our obligations.

Under subsection 6(5B) of the AML/CTF Act, assisting a person in the planning or execution of a transaction, or otherwise acting for or on behalf of a person in a transaction, to sell, buy or otherwise transfer real estate from 1 July 2026 is a designated professional service, where:
(a) the service is provided in the course of carrying on a business; and
(b) the sale, purchase or other transfer is not pursuant to, or resulting from, an order of a court or tribunal.

Financial services, services involving buying or selling bullion, precious metals, stones or products and gambling services have been designated services subject to this Act for a number of years.

As a client of Glenferrie Conveyancing, you have always needed to be identified to us to meet Land Use Victoria’s requirements.  This regime will continue, but from 1 July 2026 we may also ask you about your source of funds if you are buying property, and other relevant background checks may be done by our AML/CTF provider.

Glenferrie Conveyancing is your trusted and professional conveyancer in Melbourne. To know more about our conveyancing services, please contact us on (03) 9815 2351.