If your accountant, lawyer or real estate agent has recently asked for extra identity documents or questions about where your money comes from, you are not being singled out. The anti money laundering and counter terrorism financing (AML/CTF) rules now reach a lot more professions, and the first deadline has already passed.

What changed

AUSTRAC, the financial crime regulator, says the new regime started on 1 July 2026. Newly regulated sectors include real estate, conveyancing, legal services, accounting and dealers in precious stones and metals. Reports put the number of newly regulated businesses in the tens of thousands.

These businesses were required to enrol with AUSTRAC by 29 July 2026. AUSTRAC has said it will prioritise enforcement against entities that wilfully ignore the obligation to enrol. Beyond enrolling, regulated businesses must have an AML/CTF program, check who their customers are, report suspicious matters and keep records.

What it means if you are the client

The rules attach to particular services, not to a job title. Industry guides point to things like buying and selling property, and setting up companies or trusts, as the kinds of work that can trigger the checks. So you may see:

  • Requests for photo ID and proof of address, even for people the firm has worked with before.
  • Questions about who owns or controls a company or trust.
  • Questions about the source of funds for a purchase or investment.

What to do

  • Keep your documents handy. Trust deeds, company registers, ID and recent statements will speed things up.
  • Allow extra time. If you plan to buy or sell a property or restructure this year, build in time for the checks.
  • Answer plainly. The questions are routine, and a clear paper trail for your funds makes them painless.
  • Do not take offence or look for a workaround. The professional is required to ask.

If you run one of these businesses

If you provide accounting, legal, conveyancing or real estate services, or deal in precious stones and metals, check your enrolment status on AUSTRAC Online now. If you have not enrolled, you are already past the 29 July deadline, so contact AUSTRAC directly and get your enrolment and AML/CTF program sorted without delay. AUSTRAC has published onboarding resources for businesses that are still catching up.

Not sure whether your services count? Ask AUSTRAC or your professional adviser, rather than assuming you are exempt.