Anti-Money Laundering

Since 1 July 2026, real estate agencies that broker the sale, purchase or transfer of property have been regulated under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth), following amendments Parliament passed in 2024 (often called "Tranche 2"). PPG Commercial follows these rules to help keep criminal money out of the property market and to protect our clients from fraud and identity theft.

What the law requires of us

As a reporting entity regulated by AUSTRAC, Australia's financial intelligence agency, we must:

• be enrolled with AUSTRAC. PPG Commercial operates under PPG Realty's AUSTRAC enrolment as a reporting entity.
• maintain an AML/CTF program, including a risk assessment and policies, and appoint an AML/CTF Compliance Officer
• carry out customer due diligence before we provide a regulated service, and keep monitoring during the relationship
• report suspicious matters and certain other transactions to AUSTRAC
• keep records, generally for seven years
• train our team

Which of our services are covered

Commercial sales and buyer advocacy: covered. When we act in the sale, purchase or transfer of property, both the seller and the buyer are treated as our customers under the law, so we may need to verify both.

Commercial leasing and property management: generally not covered on their own. A lease or management agreement doesn't by itself trigger these checks. They do apply if you later ask us to sell or buy a property.

What we may ask for

• Individuals: full name, date of birth and residential address, verified with photo ID such as an Australian passport or driver's licence.
• Companies, trusts and SMSFs: entity details, and the people who own or control it (beneficial owners). We may ask for documents such as an ASIC extract or trust deed.
• People acting for others: evidence of authority, such as a power of attorney or director's resolution.
• In some cases: the purpose of the transaction, and where the funds or wealth come from.

How the check works

We use PEXA Clear, a secure AML/CTF compliance platform built for Australian property transactions, to make verification quick. In most cases you complete it online by matching a selfie to your government ID. There's no need to bring documents into the office. Where electronic checks aren't possible, we'll tell you what documents we need.

Do this early. Sellers should complete verification when signing the agency agreement, so marketing isn't delayed. Buyers may be asked to verify before or during the purchase.

If checks can't be completed

By law, if we can't complete customer due diligence, we may not be able to act for you or proceed with a transaction. We'll always work with you to resolve issues first. We are also legally prohibited from telling anyone if we've made a report to AUSTRAC ("tipping off").

Your information is protected

Information collected for AML/CTF purposes is used for compliance, stored securely, and kept only as long as the law requires. See our Privacy Policy.

Common questions

We've dealt with you before. Why do I need to be checked now?

The rules apply to all customers of a covered service, including existing clients.

I've already done a verification of identity (VOI) for settlement. Isn't that enough?

Not always. A conveyancer's VOI is a separate check. We have our own legal obligations, although we'll avoid duplicating steps where we can.

What's "source of funds"?

In some higher-risk situations, we must understand where the money for a transaction comes from. We'll explain what's needed if this applies to you.

Is this just a PPG policy?

No. It's federal law that applies to real estate agents across Australia. You can read more on the AUSTRAC website.

Questions? Contact our AML/CTF Compliance Officer

Tamara Abdallah, AML/CTF Compliance Officer
Phone: (02) 9597 7372
Email: admin@ppgrealty.com.au
6 Belmore Street, Arncliffe NSW 2205

For a plain-English overview, read PPG Realty's article: New ID checks when you buy or sell.

This page is general information and isn't legal advice.

Last updated: [publish date]