Customer Due Diligence
Anti-Money Laundering & Counter-Terrorism Financing (AML/CTF) Reforms
From 1 July 2026, new Australian anti-money laundering and counter-terrorism financing laws will apply to certain real estate services, including services provided by agencies like ours.
This means we may need to verify identity, collect certain information, and ask questions about a transaction so we can meet our legal obligations and help protect the property market from financial crime – referred to as Customer Due Diligence (CDD).
Our commitment
We are preparing now to meet these obligations and to make the process as straightforward as possible for our clients. These laws are administered by AUSTRAC, Australia’s anti-money laundering and financial intelligence regulator.
What this means for you
Depending on the service we provide, we may ask you to confirm your identity, provide supporting documents, and answer questions about the source and purpose of a transaction. We may also be required to keep records and carry out ongoing checks in line with the law.
Our responsibilities
Our responsibilities may include enrolling with AUSTRAC, maintaining an AML/CTF compliance program, carrying out Customer Due Diligence (CDD), monitoring certain matters, keeping records, and reporting where required by law.
Frequently Asked Questions
Why do I need to provide identification?
We may be legally required to verify your identity before providing certain services. This helps reduce the risk of fraud, money laundering, and other financial crime.
Will this delay my sale or purchase?
Usually not, provided the requested information is supplied promptly. We will aim to complete these checks as part of our standard process to minimise disruption.
What information will you collect?
This may include identification documents, contact details, and information about the transaction, including who is involved and how funds are being provided.
Is my information secure?
Yes. We handle personal information in line with applicable privacy laws and our privacy practices, and we only use it where needed to provide services and meet legal requirements. See our Privacy Policy for more detail.
What happens if I don’t provide the information?
If required information is not provided, we may be unable to act for you or continue with certain services. In some cases, this may delay or prevent us from proceeding.
Who regulates these requirements?
These laws are administered by AUSTRAC, the Australian Government agency responsible for combating money laundering and terrorism financing. Learn more at www.austrac.gov.au.
Is this unique to Yield Commercial?
All real estate agencies are required to comply with AML/CTF reforms. We will do our utmost to ensure the process is as streamlined as possible – our agents have undertaken the required training and compliance measures.
Contact Us
Level 5, 501/23 Challis Street,
Dickson ACT 2602
02 6152 9113