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Real estate firms have been warned to prepare for incoming AML/CTF regulations, amid significant vulnerability in the industry.
The real estate industry has been warned to “get going” on looming compliance for tranche 2 entities amid its “highly vulnerable” state in the eyes of money launderers.
“Australia as a jurisdiction is treated like a dumping ground due to property assets being of such high value, yet deemed safe investments due to the difficulty in being stolen or transferred overnight,” said Andrew Jackson, managing director, Allies of Finance.
With a background spanning software, financial, real estate and government industries, Jackson’s passion in educating everyday Aussies about the risks posed by money laundering have led to him becoming a leading voice for the new AML regulations within the mainstream media.
“Without regulation, the industry lacks a clear framework for how to assess, manage and report on client activity when it comes to the sale and purchase of real estate assets,” he added.
Jackson is one of the 25-plus speakers at AML Edge 2025, to be held next Thursday, 27 March, at Watersedge, Sydney.
“Firms who haven’t started to assess the impacts on their business need to get going. The regulators will expect every business or person offering a ‘designated service’ to be putting steps in place now to address the new regulations deadline of 1 July 2026,” Jackson said.
AML Edge 2025 offers specific advice for real estate businesses via a dedicated stream featuring experts including Jackson; Chris Nicholl, CEO of Raine & Horne; Tamara Davies, director of ethics & compliance, Pacific, at CBRE; and Jeremy Moller, senior adviser – risk advisory, at Norton Rose Fulbright.
“Technology will also play a key role in helping to comply with regulations, while reducing any admin burden to ensure businesses continue to operate and grow as they desire,” Jackson said.
He added that real estate businesses which operate a franchise model should consider whether they advise or mandate frameworks, processes and technology as part of their overall risk and compliance strategy.
Jackson said the regulations being overdue in Australia offers an opportunity to learn from jurisdictions that have come before.
“New Zealand is a great example, with many Australian real estate firms having operations or ties to NZ business, thereby providing a great sounding board,” he said.
Join Andrew Jackson and an exceptional line-up of Australian, UK and NZ AML experts at AML Edge 2025 next week.
Visit www.amledge.com.au to view the program and secure your ticket. Real estate stream only passes available from just $395+GST.
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