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MEDIA RELEASE: ACT REAL ESTATE AGENTS TO STEP UP IN FIGHT AGAINST MONEY LAUNDERING
MEDIA RELEASE – 17 JULY 2025
Real estate agents in the ACT will soon undertake educational training to strengthen their capacity to identify money laundering and terrorism financing activities.
This follows federal legislation passed creating new obligations for real estate professionals (including agents, buyers’ agents and property developers).
Due to commence on 1st July 2026, the new reforms will require real estate professionals to enrol with Australian Transaction Reports and Analysis Centre (AUSTRAC), monitor and report suspicious activities in their transactions.
The Real Estate Institute of the Australian Capital Territory (REIACT), the Capital’s peak industry body for real estate, will launch a series of online and in-person briefings to help real estate agents prepare for the implementation of the new reforms.
Delivered in partnership with First AML, a leading provider of regulatory technology solutions, these comprehensive educational briefings will provide members with the knowledge and tools required to meet the compliance requirements.
REIACT CEO Maria Edwards emphasised that the real estate industry supports the federal government’s fight against financial crimes, noting that Australia is one of only a handful of countries that have not yet complied with the global Financial Action Task Force requirements for industries such as real estate and conveyancing.
Full media release here.
