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With new AML/CTF compliance rules looming in Australia, Raine & Horne’s CEO has said they are learning from their New Zealand business and experts in other markets.
Ahead of tough new AML/CTF regulations coming into force in July 2026, Raine & Horne CEO, Chris Nicholl, said they are looking overseas for “valuable” help on how to build compliance systems.
“We’re in a fortunate position that we have learnings from our New Zealand business where AML has been in place for a number of years,” Nicholl said.
“We’re looking at existing systems and how we can build on these to streamline the CDD/risk assessment process for our offices and agents. Utilising the best technology will be key to this.”
As well as from its own business, Nicholl said Raine & Horne is consuming as much information as possible, reading industry body submissions to AUSTRAC, and working with AML/CTF experts who have been involved with rolling similar programs out overseas.
Nicholl will speak alongside over 25 AML experts at AML Edge 2025 on 27 March, an event designed to help real estate agents cut through uncertainty and fear, and find opportunities to emerge stronger, smarter and fully prepared.
For agents wanting to learn from overseas businesses, the roster of international speakers includes Amy Bell, chair of the Money Laundering Task Force of the Law Society and founder of AML Sorted (UK); Alice Bexson, first secretary, Illicit Finance Policy lead, British High Commission; and Gary Hughes, New Zealand’s leading anti-money laundering lawyer. The program also features numerous other experts and sessions specifically designed for real estate.
Change is the biggest challenge
Meanwhile, Nicholl said change management is the biggest challenge for agents in complying with incoming AML/CTF regulations.
“The most challenging thing will be getting agents to change their processes,” he said.
“Don’t leave it too late. It is happening whether we like it or not. Get educated and be prepared early.”
To hear from Chris Nicholl and to join AML Edge 2025, tickets are available here.
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