Disclaimer: This blog post provides general information only and does not constitute legal or conveyancing advice. You should seek professional advice tailored to your specific circumstances.
What is AML in Conveyancing?
From 1 July 2026, Anti-Money Laundering (AML) is an extra compliance step needed to be performed by conveyancers. These laws are designed to help detect and prevent financial crime, including money laundering and the funding of terrorism. We will be sending out forms that ask additional questions of clients about their financial circumstances, as required by legislation.
These requirements are mandated by the AML/CTF Act 2024 (Cth) and apply to conveyancing professionals across Australia. We are legally required to collect and verify this information for every conveyancing matter.
When we act on your behalf, you will be asked to complete an AML form. The AML form must be completed by all clients. In the form, you may need to:
- Provide additional ID verification
- Provide information about your source of wealth and the origin of transaction funds
- Confirm whether you are a Politically Exposed Person, or related to one
- Provide additional information if a company, trust, or partnership is involved
Please note, the AML/CTF compliance checks will require an additional disbursement cost. If you have any questions about the information we request, please contact our team. We are happy to help.
Disclaimer: This blog post provides general information only and does not constitute legal or conveyancing advice. You should seek professional advice tailored to your specific circumstances.
