IMPORTANT CHANGES FROM 1 JULY 2026
Anti-Money Laundering & Counter-Terrorism Financing (AML/CTF) Reforms
Why are these changes happening?
From 1 July 2026, Australian real estate agencies involved in property transactions will be required to comply with expanded Anti-Money Laundering & Counter-Terrorism Financing (AML/CTF) obligations.
These reforms, commonly referred to as the “Tranche 2 reforms”, are being introduced by the Australian Government and overseen by Austrac to help prevent criminal activity, money laundering and terrorism financing through property transactions.
What Does This Mean for You?
If you are buying, selling or otherwise involved in a property transaction, we may be required to verify your identity and obtain information about the entity you represent.
Depending on your circumstances, this may include:
- Driver Licence or Passport
- Proof of Residential Address
- Company Information
- Trust Documentation
- Beneficial Ownership Information
- Other Documents Required under the AML/CTF Act
The exact requirements will vary depending on your entity type and involvement in the transaction.
How Dugan & Co Property will verify your identity
To make the process as secure and efficient as possible, Dugan & Co Property have chosen PEXAClear, a trusted Australian identity verification platform.
Through PEXAClear, we may:
- Verify Individual Identities
- Confirm Company and Trust Details
- Conduct Required Compliance Checks
- Maintain Records Required by Legislation
Verification may occur at different stages of the transaction process, depending on when you first engage with us.
How we protect your information
Protecting your information is important to us.
Dugan & Co Property uses PexaClear, a secure Australian identity verification platform, to verify client identities in accordance with AML/CTF legislation.
Personal information is stored securely and handled in accordance with applicable privacy laws.
Where required, information and verification records may be retained within PexaClear and Dugan & Co Property’s secure systems to meet our legal and regulatory obligations.
Should you require any further information about these reforms, please refer to one of our agents or contact the office directly on 07 3216 1292.
