Real estate agents face tough new rules to prevent criminals laundering money. This is what’s changing

By Mei Pheng Lee, Practice Professor, Faculty of Law, Bond University

The Australian government has brought in sweeping changes to the laws on anti-money laundering and counter-terrorism financing, known as AML/CTF, which began on July 1.

The initial aim was to simplify and modernise the anti-money laundering regime. But the laws have also been expanded to cover not just banks, financial institutions and casinos, but also to include many roles in the real estate sector.

The changes aim to close gaps that criminals have…

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