How Elders Real Estate is complying with AML/CTF obligations and what you need to know

From 1 July 2026, new Australian laws require real estate agencies to complete identity verification
and compliance checks when providing certain services. These measures are designed to protect buyers
and sellers, and ensure property transactions remain transparent, secure and compliant.

Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws are designed to prevent
criminals from using legitimate businesses and transactions to conceal illicit funds or support terrorism.

What this means for you

If you’re buying or selling a property, you will be asked to provide information to confirm your identity
and understand who owns or controls the person or entity involved in the transaction.

These checks are a legal requirement for all real estate businesses across Australia and Elders must
comply with AML/CTF obligations. Our process is designed to be clear, efficient and secure. Most checks
will be completed quickly once verification documents are provided.

What you may be asked for

Most of the time the process is simple and quick. Elders may ask you to provide the following for
customer due diligence purposes:

Photo ID, such as a driver’s licence or passport
Personal information
Proof of address, such as a utility bill or bank statement

Depending on the ownership structure and the nature of the transaction, you may be asked for additional
information on:

Company, partnership or trust documentation
Details about ownership or control of entities
Source of funds or wealth information for higher-risk transactions

Why is Elders requesting this information?

This information is collected so Elders can meet its legal obligations, verify your identity, assess risk,
and help ensure the transaction is legitimate. It may also be used to maintain required compliance records
and, where required by law, support reporting obligations to AUSTRAC.

How your information is handled

We take privacy and data security seriously. Elders only collects what is required by law or what you have
authorised us to collect. Your data is stored securely and handled in accordance with Australian privacy
laws and strict AML/CTF regulatory requirements. It is used only for identity verification and compliance checks.

Important to know

If we are unable to complete the required checks, we may not be able to proceed with certain services.
This is a requirement of the law and applies to all real estate agencies. You may also be asked for similar
information by your bank or conveyancer, as this is now a standard part of the process across the industry.

For more information, please visit the
AUSTRAC website.

Anti Money Laundering Compliance