Lawyers, conveyancers, real estate agents and accountants have until 1 July 2026 to understand and comply with sweeping reforms to Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws.
To help prepare the industry for the Tranche 2 changes, Australia’s largest property and legal technology provider, InfoTrack, is leading a national collaboration with Grant Thornton. The collaboration will deliver 26 compliance workshops across NSW, ACT, QLD and VIC, featuring expert speakers from the Australian Transaction Reports and Analysis Centre (AUSTRAC).
The workshops, planned for March, follow AUSTRAC releasing comprehensive guidance kits to be released this week.
InfoTrack Chief Operating Officer and national AML project sponsor Lee Bailie said the reforms which bring legal, real estate and accounting professionals under the AML/CTF regime for the first time have implications well beyond regulatory compliance.
“These reforms will reshape how money moves through property transactions in Australia,” Mr Bailie said.
“By restricting the flow of illicit money into real estate, the reforms have the potential to ease artificial pressure on housing demand and, over time, pricing.”
Australia’s property market has long been a global target for money laundering. AUSTRAC estimates that criminals linked to China laundered $1 billion through Australian real estate in 2020, while international analysts have repeatedly identified Australia as one of the weakest jurisdictions globally when it comes to verifying who is buying property.
Mr Bailie said everyday Australians have borne the consequences.
“Illicit money hasn’t just undermined the integrity of the financial system,” he said. “It has distorted demand and pushed prices higher, making it harder for first-home buyers and families to compete.”
“Reducing that influence means reducing artificial price pressure and that’s a positive step for genuine buyers.”
Under the Tranche 2 reforms, professionals involved in property transactions will be required to conduct enhanced due diligence, verify client identities and scrutinise the source of funds entering the market.
Mr Bailie said InfoTrack’s workshops are designed to support practical implementation, not just awareness.
“Participants will receive AUSTRAC-aligned guidance, see how technology can simplify compliance, and have the opportunity to share insights with peers as the industry prepares for one of its biggest regulatory shifts.”
“This is about protecting consumers, restoring confidence in the housing market and ensuring Australians aren’t competing against illicit money,” Mr Bailie said.
“The better prepared industry is now, the stronger the long-term outcome will be for buyers, investors and the community as a whole.”
