Important Update: New AML/CTF Requirements from 1 July 2026
From 1 July 2026, Australia's Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws will apply to real estate agencies involved in property and business transactions.
As a result, SDBC Partners is legally required to undertake customer due diligence before acting for clients buying or selling property or businesses.
What this means for you
As part of our AML/CTF obligations, we may be required to:
-
Verify your identity.
-
Confirm the ownership and control of companies, trusts or other entities.
-
Identify beneficial owners.
-
Obtain additional information about the transaction and, where required, the source of funds.
These checks apply to both buyers and sellers of property and businesses.
How the process works
To make the process simple and secure, SDBC Partners has partnered with First AML.
You will receive a secure email from First AML with a personalised link to complete your identity verification online. If you are acting through a company, trust or other entity, additional information may be required to verify directors, trustees, shareholders or beneficial owners.
Completion of the AML verification is a legal requirement and must be completed before we can proceed with your transaction.
AML Compliance Fee
There is a cost associated with completing the mandatory AML verification and compliance process. This cost will be passed on to the relevant parties as part of the transaction and will be disclosed as part of our engagement.
We're Here to Help
SDBC Partners is committed to making this new compliance process as straightforward as possible. If you have any questions about the new AML/CTF requirements or the First AML verification process, please contact our team—we're happy to assist.