By Julian & Renee (Australia) – with writing support from Alberto Aldana (Colombia)
The Australian government’s recent reforms to the Anti-Money Laundering and Counter-Terrorism Financing Act show that authorities are moving towards strategically closing gaps in the financial system that have, over the years, been exploited by organised criminal activity and money laundering. The conveyancing industry is one of many high-risk industries that stands to be significantly impacted by these changes. On 1 July 2026, conveyancers (along with lawyers, real estate agents, and other businesses) will be subject to new obligations to help prevent money laundering and terrorism financing.
The key changes introduced under the AML/CTF Amendment Bill 2024 include the expansion of regulation to industries such as conveyancing, where businesses will now need to implement specific measures to combat financial crime. These measures include the registration and enrolment of businesses, conducting due diligence on customers, and reporting certain transactions to authorities. For conveyancers, this means ensuring that clients’ identities and financial sources are properly verified, maintaining detailed records, and reporting suspicious activity to authorities. These steps will help reduce the risk of criminal exploitation and ensure that property transactions are not used as a conduit for illegal activities.
As a result of these reforms, purchasers and vendors will benefit from greater protection through new processes. Those buying property can feel more confident that their property transactions will be screened for potential money laundering. Nevertheless, property transactions may take more time to process as businesses adapt to comply with the new requirements. On the vendor side, failing to comply with the new rules could result in significant legal and financial consequences, including fines and criminal penalties.
Flash Conveyancing, run by Julian and Renee, provides conveyancing services across Queensland. With extensive experience dealing with local councils including Blacktown, Hornsby, and Parramatta, they ensure a personalised settlement experience. When buying or selling in Kellyville, Castle Hill, or Windsor, they help ensure that your property transaction complies with the latest AML/CTF reforms. These measures help protect both the integrity of the transaction and the parties involved.
Our team has a proven track record of working seamlessly with the Blacktown, Hawkesbury, Blue Mountains, The Hills Shire, Hornsby, and Parramatta councils.
North-West Growth Corridor: Marsden Park, Box Hill, Schofields, Tallawong, Riverstone, Gables, Melonba, Grantham Farm, and Angus.
The Hills District & Surrounds: Castle Hill, Kellyville, North Kellyville, Bella Vista, Baulkham Hills, Beaumont Hills, Norwest, Rouse Hill, Winston Hills, and Westmead.
Blacktown City & Established West: Blacktown, Seven Hills, Glendenning, Glenwood, Stanhope Gardens, The Ponds, Quakers Hill, Kings Langley, Parklea, Acacia Gardens, Arndell Park, Rooty Hill, and Doonside.
Hawkesbury & Lifestyle Estates: Dural, Middle Dural, Kenthurst, Glenhaven, Galston, Glenorie, Annangrove, Nelson, Cattai, Maraylya, Vineyard, and Windsor.
Parramatta & Emerging Hubs: Parramatta, Northmead, North Rocks, North Parramatta, Wentworthville, and St Marys.