PROTECTING YOUR PROPERTY TRANSACTION
Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF), 2026 Reform Update
From July 1 2026, changes to the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 mean that we now have a legal obligation to verify your identity before we can provide services to you.
These extra steps form part of the new legal requirements that apply to many industries. These reforms serve to protect Australia’s property transactions from being used for criminal or illegal activities.
So what does this mean for you?
When you engage the services of MyChoice Conveyancing, we may need to ask you for some additional information which may include:
- Verifying your identity
- Asking how our services will be used
- Confirming who owns or controls a business or entity involved
- Keeping your information accurate and up to date
- Requesting additional information where necessary
Why these checks are important
The Australian financial intelligence agency and regulator (AUSTRAC) is responsible for detecting, deterring and disrupting serious financial crimes.
MyChoice Conveyancing shares and supports this common goal to:
- Protect customers and services from criminal abuse
- Support a safe and secure financial system
- Meet all legal obligations
Our qualified and experienced team is committed to supporting you through the legal process and will help you navigate through the path to home ownership easily and efficiently.