Media release
Australia's real estate industry faces a critical compliance deadline as the government introduces anti-money laundering reforms. With money laundering causing an estimated $60.1 billion in harm to the Australian economy annually, Australia is one of the last countries to extend tranche 2 AML/CTF legislation. This extends the AML legislation to capture real estate professionals and several other professional service providers.
According to AML experts AMLHUB, the Australian Government's introduction of tranche 2 of AML/CTF obligations will shake up the real estate industry in particular, with the vast majority in the sector unaware of their obligations under the new law.
"This will result in a real lack of preparedness among the nation's over 46,000 real estate professionals with many genuinely unaware of the tranche 2 laws and the AML obligations hitting the real estate sector," Chief Executive Officer of AMLHUB Mr Richard Manthel said.
Mr Manthel said AMLHUB is working alongside the regulator, Australian Transaction Reports and Analysis Centre (AUSTRAC), to raise awareness of AML compliance and obligations within the real estate industry. Real estate companies will need to be ready by 1 July 2026, as missing key dates can be costly. "We don't want to see anyone get hit with avoidable fines which can be from $19,000 a day if real estate businesses don't meet key date milestones.” he said.
"It is absolutely critical to start becoming aware of these obligations and not leave it to the last minute to do so."
AMLHUB are AML experts who have honed deep expertise in the anti-money laundering space for 12 years and have assisted Real Estate companies with an AML solution and platform to manage well over 500,000 real estate transactions and vendors.
Drawing on experience from similar regulatory changes across the Tasman, Mr Manthel highlighted the challenges that occurred when New Zealand implemented comparable regulations.
"When the same level of compliance was introduced to the New Zealand real estate sector in January 2019, we saw a lot of last-minute panic with real estate agencies asking, 'how are we going to do this, and what do we need to do!'" Mr Manthel said.
To date they have over 10,000 real estate agents in New Zealand using their AMLHUB software combined with extensive support and education allowing them to meet the obligations and key dates.
“At AMLHUB we provide an end-to-end solution as a focused anti-money laundering specialist firm. We have developed extensive experience working with thousands of companies, and our award-winning AMLHUB software assists companies in managing their compliance requirements," Mr Manthel said.
Mr Manthel said the work required to become compliant with the AML/CTF tranche 2 requirements will be different for each business due to their size, services offered, client base, and company structure but more importantly, can cause great stress if not managed early and effectively.
"It is not something that can be left to the last minute. Each business needs education, support, good process and AML software to manage compliance requirements to ensure a minimum disruption to their operations.
"The good news is that we have supported companies thousands of times in New Zealand and Australia. We know the cost if AML is not done correctly, and we enjoy assisting our clients understand and achieve their AML obligations. "
Mr Manthel said AMLHUB provides a bespoke service tailored to each client to ensure the best results with the lowest impact on them.
"Our goal is to ensure each client meets their obligations correctly the first time."
Importantly, Australia's real estate sector needs to be aware of their obligations, which include enrolling with AUSTRAC by 31 March 2026 and complying with the Act by 1 July 2026, or significant penalties may apply.
ENDS
About us:
About AMLHUB
AMLHUB are AML experts who have expertise of working in the anti-money laundering space for 12 years.
AMLHUB brings together AML software, training, expert consulting, and tailored AML document creation in one place. Whether you're onboarding clients, completing due diligence, or preparing for audits, AMLHUB gives your business the tools, guidance, and confidence to manage your AML/CTF compliance from end to end. With AMLHUB, real estate agencies can take full ownership of their obligations, stay ahead of regulatory requirements, and operate with clarity and peace of mind.
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Media Contact
Anthony Spargo
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