New Anti-Money Laundering Laws for Property Transactions
What Buyers and Sellers Need to Know
If you're buying or selling property in Western Australia, you may notice your settlement agent asking for a little more information than before.
That's because from 1 July 2026, new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws apply to settlement agents, conveyancers and other professionals involved in property transactions.
While the legislation introduces additional compliance obligations for the industry, for most property buyers and sellers it simply means completing a few extra identity and verification checks before settlement can proceed.
Why are these new laws being introduced?
The Australian Government has expanded the AML/CTF regime to strengthen protections against money laundering, terrorism financing and other serious financial crimes.
Real estate transactions often involve significant amounts of money, making them an attractive target for criminals attempting to move or disguise illegally obtained funds.
The new legislation aims to improve transparency across the property sector while bringing Australia more closely into line with international standards.
What will buyers and sellers need to do?
For most people, the process will be straightforward.
Depending on your circumstances, we may ask for all or some of the following:
Government-issued photo identification
Proof of your residential address
Information about the source of funds used to purchase the property
Details of companies, trusts or other entities involved in the transaction
Additional documentation where required
Many clients will find these requests similar to the identification checks completed when opening a bank account or applying for finance.
Will this affect my settlement?
Not necessarily.
The biggest factor in avoiding delays is providing any requested information as early as possible.
Settlement agents are now legally required to complete these verification checks before providing certain services, so responding promptly helps keep your transaction moving smoothly.
What if I've used the same settlement agent before?
Even if you've previously bought or sold property through the same settlement agent, you will still be asked to complete identity verification again.
The legislation requires settlement professionals to maintain up-to-date customer information, meaning previous transactions may not satisfy the new legal requirements.
How we're helping our clients
At Express Property Settlements, we've already implemented new processes to help our clients navigate the AML requirements with confidence.
While the new legislation officially came into effect on 1 July 2026, preparing for it has been a much longer process behind the scenes.
Over the past several months, our team has completed extensive training, updated our internal procedures and implemented new compliance systems to ensure we're fully prepared to meet our legal obligations while continuing to deliver the seamless settlement experience our clients expect.
We'll explain exactly what information is required, why we need it and how to provide it securely. Although you'll notice a few additional verification steps, our goal is to make the process as straightforward as possible while keeping your settlement on track.
Learn more about the new AML requirements
If you're preparing to buy or sell property and would like to understand exactly what these new laws mean for you, we've created a comprehensive guide covering the new identity verification requirements, frequently asked questions and what to expect throughout your settlement.
Read our complete guide to the new AML requirements for property settlements.
