REIQ delivers practical AML Toolkit to guide real estate professionals

With the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws taking effect soon, the REIQ has released an AML Toolkit, providing real estate professionals clear, practical guidance to navigate the new regime.

Designed specifically for the real estate sector, the REIQ AML Toolkit cuts through legislative complexity to deliver step-by-step support for principals, compliance officers and support staff preparing to meet their new compliance obligations.

Importantly, the toolkit complements – rather than replaces – the relevant regulator, the Australian Transaction Reports and Analysis Centre’s (AUSTRAC) authoritative guidance, directing users to the source material while helping them understand how to apply it in day-to-day operations.

REIQ CEO Antonia Mercorella said the toolkit delivers practical, tailored guidance that makes sense for real estate businesses.

“This is about supporting the entire profession through a once-in-a-generation regulatory shift,” Ms Mercorella said.

“We know these obligations come with additional cost and administrative burden, so as the peak body our focus is on supporting real estate professionals in making compliance as clear, practical and manageable as possible.

“Our AML Toolkit cuts through the jargon and translates complex legislation into clear, actionable steps.

“It follows AUSTRAC’s official starter kit roadmap while adding REIQ’s practical insights on what each stage means for real estate agencies.

“It has been designed specifically for real estate, written in plain language, and built to give businesses confidence that they are on the right track.”

The REIQ AML Toolkit includes:

• Step-by-step guidance to prepare for AML/CTF obligations
• Plain-language explanations and real estate applications of AUSTRAC’s starter kit roadmap
• A checklist of considerations when selecting an AML technology provider
• Frequently asked questions
• A glossary of key definitions

Ms Mercorella said the toolkit would be available to all real estate professionals, reflecting the scale and significance of the changes and consequences of non-compliance facing the sector.

“These reforms represent a fundamental shift in how real estate businesses operate, and we understand there is still strong concern about what it means in practice – particularly for small, independent agencies,” she said.

“The REIQ has worked to soften the impact of the new regime by advocating for a more balanced approach and by providing tools like this to support confident compliance.

“In the face of change, the REIQ is here to support the profession every step of the way.”

To further support the profession, the REIQ has also delivered AML-focused training through its statewide roadshow staged earlier this year, published practical one-page resources for agents to share with buyers and sellers, and made available a recorded webinar covering key compliance requirements.

The REIQ AML Toolkit is now available for download here.