Why do I need to verify my identity?

Why do I need to verify my identity?
New tranche 2 AML/CTF (Anti-Money Laundering and Counter-Terrorism Financing) legislation now requires all buyers and sellers to complete an identity check before a property transaction can proceed. It's a legal requirement, and we're here to make it as straightforward as possible.

What is AML/CTF legislation?
AML/CTF stands for Anti-Money Laundering and Counter-Terrorism Financing. These laws help prevent criminals from using property to conceal illegally obtained funds, an issue real estate has long been vulnerable to.

Identity checks like these are already standard practice in banking, legal, and financial services, and have been a requirement in countries like the UK and New Zealand for some time. Australia is now aligning with that same standard.

Why does this matter when buying or selling a home?
For most Australians, buying or selling a home is the single biggest financial transaction of their lives. The stakes are high, which is exactly why it makes sense to know that everyone involved is who they say they are.

How does it protect me as a buyer or seller?
Property fraud and identity theft do happen. Verifying the identity of everyone in a transaction helps ensure your home, your money, and your personal information are protected, from the moment you list or make an offer, right through to settlement.

Does this mean my agent doesn't trust me?
Not at all. It applies to every buyer and seller, without exception. Your agent is simply meeting their legal obligations, the same way a conveyancer or bank would before any major transaction.

What do I need to provide?
Usually a current driver's licence, passport or medicare card. The check is generally completed online in just a few minutes, there's no need to visit an office or print anything out.

How is my personal information kept safe?
Your data is handled in accordance with Australian Privacy Law. Please refer to our Privacy Policy for further information.

What if I don't complete the check?
We are unable to accept payment without verifying your identity. If you have any questions, your agent or conveyancer will be happy to help.