New AML/CTF Requirements for Conveyancers

As of today, 1 July 2026, the second phase of Australia’s Anti‑Money Laundering and Counter‑Terrorism Financing (AML/CTF) reforms, known as Tranche 2, has officially come into effect.

This reform expands the range of businesses required to comply with obligations set by AUSTRAC (the Australian Transaction Reports and Analysis Centre). In addition to financial institutions and casinos, new industries such as legal, accounting, conveyancing, and real estate are also classified as “designated services” and are therefore subject to AML/CTF regulation.

AUSTRAC explains that these changes are intended to close loopholes that criminals have been exploiting and to strengthen Australia’s ability to combat increasingly sophisticated financial crime.

As a result of these changes, we, conveyancers, are now required to conduct more detailed identity and background checks before proceeding with property title transfers. This may involve asking you more personal questions than before. We kindly ask for your understanding and cooperation.

(For reference, financial crime occurs daily in Australia, costing up to $82 billion a year. Funds laundered through the system are often linked to serious criminal activities such as illicit tobacco trade, environmental destruction, corruption, child exploitation, and human trafficking.)

If you require assistance with property title transfers, please feel free to contact us. We are available in both Japanese and English. We're here to support you through every step of your conveyancing journey in South Australia.

Rits Conveyancing

contact@tatewaki.net | 0411 769 153