Anti-Money Laundering & Counter-Terrorism Financing (AML/CTF) 

Important Information

At Hyde Conveyancing, we are committed to providing professional, transparent and secure conveyancing services.

As part of Australia's strengthened Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws, conveyancers are required to take additional steps to verify client identities, understand certain aspects of property transactions and identify and manage potential financial crime risks.

These requirements apply to relevant conveyancing services from 1 July 2026.

Our compliance obligations are regulated by the Australian Transaction Reports and Analysis Centre (AUSTRAC).

Why are we required to collect this information?

Property transactions can potentially be misused to conceal the proceeds of crime or facilitate other unlawful activities.

The AML/CTF laws are designed to help prevent this by requiring certain businesses, including conveyancers, to:

• Verify the identity of clients.
• Understand the nature and purpose of property transactions.
• Identify and assess potential money laundering and terrorism financing risks.
• Obtain additional information where required.
• Monitor transactions for suspicious activity.
• Report certain matters to AUSTRAC where legally required.

These requirements are not an indication that we suspect any particular client of wrongdoing. They form part of our legal obligations when providing regulated conveyancing services.

What information may we ask you to provide?

Depending on the nature and circumstances of your transaction, we may request:

Identity verification

• Full legal name, date of birth and residential address.
• Current identification documents, such as a passport or driver licence.
• Electronic identity verification through an approved verification provider.
• Additional identification or verification information where required.

Customer information

• Confirmation of your occupation or business activities.
• Whether you are acting on your own behalf or for another person.
• Deatils of any person who ultimately owns, controls or benefits from a relevant entity or transaction.
• Information regarding politically exposed person (PEP) status, where applicable.

Property transaction and financial information

For certain transactions, we may also ask questions about:

• The purpose of the purchase, sale or transfer.
• The source of funds being used to purchase a property.
• The source of your overall wealth, where required.
• Whether funds are being provided by another person, company or entity. 
• Supporting documentation, such as bank statements, loan documents, sale contracts, inheritance records or other relevant evidence.

The information requested will depend on the circumstances and risk associated with the particular transaction.

Do these requirements apply to both buyers and sellers?

Yes. AML/CTF obligations may apply to both purchasers and vendors, as well as certain other property transfers.

For purchasers, we may need to verify identity and understand the source of funds being used for the acquisition.

For vendors, we may need to verify identity, understand the transaction and undertake additional checks where circumstances require.

Additional due diligence may be necessary for high-value transactions, cash purchases, complex ownership structures, transactions involving third parties or other circumstances presenting increased risk.

How will my information be collected?

Hyde Conveyancing may collect information through:

• Secure electronic client identification and verification systems.
• Client information and Know Your Customer (KYC) forms.
• Sercure electronic document exchange.
• Direct communication with you.
• Supporting financial or transaction documents.

We may use specialist identity verification and compliance service providers to assist us in meeting our obligations.

Please ensure that all information supplied is accurate, complete and up to date.

How do we protect your personal information?

We understand that identity and financial information is sensitive and that clients expect it to be handled with care.

Hyde Conveyancing takes reasonable steps to protect personal information against misuse, interference, loss, unauthorised access, modification or disclosure.

Information collected for AML/CTF purposes will be handled in accordance with applicable privacy laws, our privacy obligations and relevant statutory record-keeping requirements.

Where required or authorised by law, information may be disclosed to AUSTRAC or other relevant regulatory or government authorities.

Certain AML/CTF records must be retained for prescribed periods, including a general seven-year retention requirement for relevant customer due diligence records.

Further information about the handling of personal information is available in our Privacy Policy.

What happens if I do not provide the requested information?

Hyde Conveyancing is legally required to complete applicable customer due diligence before providing relevant designated services, subject to any lawful exceptions or permitted delayed verification arrangements.

If you do not provide the requested information or documentation, we may be unable to commence or continue acting for you, or complete certain aspects of your conveyancing transaction.

We appreciate your cooperation in helping us meet these obligations and minimise unnecessary delays.

Will my transaction be reported to AUSTRAC?

Not every property transaction is reported to AUSTRAC.

However, the law requires reporting entities to submit certain reports where applicable, including Suspicious Matter Reports (SMRs) when the relevant legal reporting threshold is met.

In some circumstances, the law restricts us from disclosing whether a report has been made or whether a matter is being considered for reporting.

These obligations apply to us as a regulated business and are not a reflection of any assumption about our clients.

Our commitment to you

At Hyde Conveyancing, we recognise that providing identification and financial information may feel like an additional administrative step.

We aim to make the process as straightforward, secure and efficient as possible while ensuring that we meet our legal obligations.

We thank our clients for their understanding and cooperation as these important requirements become part of the Australian conveyancing process.

Hyde Conveyancing
Professional. Personal. Property Conveyancing.

For any questions about the information required for your matter, please contact our office.

Further information may be obtained from AUSTRAC https://www.austrac.gov.au/general-public