Harcourts Anti-Money Laundering and Counter-Terrorism Financing Act Compliance Statement

Anti-money laundering, counter-terrorism financing and proliferation financing (AML/CTF) reforms affecting the real estate industry commence on 1 July 2026.  These mandatory reforms took effect via amendments to the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (Cth) (and Rules) and are administered and enforced by the federal anti-financial crime regulator, AUSTRAC.

Money laundering is the process of taking the proceeds of illegal activities like drug trafficking and processing them to appear to look legitimate.  Terrorism financing is the funding of terrorist acts or organisations.  Proliferation financing refers to providing funds used to develop weapons of mass destruction.

The reforms are designed to prevent the real estate industry from being exploited by criminals.  In particular, the reforms seek to disrupt and deter attempts to use real estate transactions to conceal the origins of money generated by crime so that they appear legitimate.

Certain real estate services are covered by the AML/CTF laws and require our offices that are providing those services to comply with the AML/CTF requirements.  Harcourts’ offices are committed to meeting their AML regulatory obligations and Harcourts expects this commitment from them.

This information is provided in our ongoing efforts to be transparent and clear with our network and customers, and to support compliance with the AML/CTF laws. This information is provided to be transparent about why Harcourts offices may ask for personal information, how that information may be collected, including from third parties or publicly available sources, and how it may be used for AML/CTF purposes.

What is Customer Due Diligence (CDD)?

Buyers and sellers are required to complete a Customer Due Diligence (CDD) process from 1 July 2026. This CDD process will help confirm the identity of the person before a real estate transaction can proceed. This includes verifying identity, identifying persons who own or control an entity (looking at a company or a trust, for example), and performing additional checks and steps as required if there is a higher risk.

For a standard residential sale, CDD will commonly apply to the seller or client appointing the Harcourts office. In other situations, it may also apply to other customers or related people where the Harcourts office is providing regulated real estate services and AML/CTF checks are required.

What information may be requested?

Depending on whether you are the seller or buyer, and whether in a personal capacity or part of an ownership structure (for example a company or a trust), your Harcourts office representative or their AML provider may request certain information from you, which may include:

• Your full name
• Date and place of birth
• Residential or business address
• Email address and phone numbers
• Government-issued identification details, such as a driver’s licence, passport, Medicare care or other identification document numbers (including as required by AML Provider)
• Biometric information, such as a facial image or short video used to verify your identify (if required by AML partner)
• Information about our third-party services, such as our AML provider;
• Ownership or control information about your legal entities (if applicable), including evidence of beneficial ownership
• Evidence of the sources of your funds or wealth
• Information that helps us to determine the nature and purpose of your transaction.

Where may Harcourts offices collect this information from?

Where possible, your Harcourts office will collect information directly from you. However, AML/CTF checks may also require information to be collected indirectly from other people or sources. This may include information collected from:

• the customer or client;
• people acting on behalf of the customer or client;
• beneficial owners, directors, shareholders, trustees, settlors, beneficiaries, attorneys, authorised representatives, or other people connected with the customer or transaction;
• lawyers, conveyancers, accountants, mortgage advisers, banks, financial institutions, or other professional advisers involved in the transaction;
• public or government registers;
• AML/CTF service providers;
• identity verification and electronic identity verification providers;
• address verification providers;
• credit reporting or electronic verification sources, where used for identity or address verification;
• sanctions, politically exposed person, watchlist, adverse media, or other screening providers;
• government-issued identity document verification sources; and
• publicly available information, websites, media, and records.

This indirect collection may occur because AML/CTF checks often require information about people other than the person directly instructing the Harcourts office, including beneficial owners, trustees, company officers, attorneys, or people acting on behalf of a customer.

Where a Harcourts office uses an AML provider, the specific provider details may be given in that office’s Franchisee Privacy Policy, collection notice, onboarding process, office information, or AML/CTF request.

Why do Harcourts offices request this information?

Our franchised Harcourts offices within our network are subject to AML/CTF laws and are required to undertake customer identification, verification, record-keeping, risk assessment and other compliance activities in accordance with their obligations under the AML/CTF laws.

This information is required in connection with the designated real estate services, and our offices request this information so that they may progress your sale or purchase through the mandatory process required by the AML/CTF laws.

How will this information be used?

The information will be collected, used, verified, processed, stored, and retained for AML/CTF compliance purposes. This may include use for:

• identity verification;
• electronic identity verification;
• beneficial ownership checks;
• authority to act checks;
• risk assessment;
• ongoing customer due diligence;
• enhanced due diligence;
• source of funds or source of wealth checks;
• record-keeping;
• audit and compliance monitoring;
• regulatory reporting;
• fraud, impersonation, money laundering, terrorism financing, and unlawful activity prevention; and
• responding to lawful requests or requirements from regulators, supervisors, courts, government agencies, or other authorities.

AML/CTF information is not collected for unrelated marketing purposes.

The records will be held for the minimum period required by law.

Who will our Harcourts offices share your personal information with

Your information may be shared by an office where reasonably necessary for AML/CTF compliance, verification, screening, audit, legal compliance, security, or related business purposes. This may include sharing information with:

• the relevant Harcourts office;
• the relevant Harcourts Franchisor, and related Harcourts entities, where they provide network systems, compliance support, technology, audit, or operational support;
• AML/CTF service providers;
• identity verification and electronic identity verification providers;
• biometric or liveness verification providers;
• address verification providers;
• politically exposed person, sanctions, watchlist, and adverse media screening providers;
• secure cloud hosting, technology, support, monitoring, and storage providers;
• professional advisers, auditors, insurers, and legal advisers;
• parties involved in the transaction, where sharing is necessary to manage or complete the transaction; and
• AML supervisors, regulators, courts, government agencies, or other authorities where required or permitted by law.

Where an AML provider or technology provider is used, that provider may process information on behalf of the relevant Harcourts office. The relevant Harcourts office remains responsible for how your personal information is handled for its AML/CTF compliance purposes.

How will Harcourts handle your personal information?

Our offices only collect personal information that is reasonably necessary to carry out their business activities, to comply with the AML/CTF laws and to meet legal obligations. Personal information is handled in accordance with our Franchisee Privacy Policy.

You have the right to ask for access to, and correction of, personal information held about you. To make a privacy request, please contact the Harcourts office you are dealing with, or refer to the relevant Harcourts Franchisee Privacy Policy or Franchisor Privacy Policy, as applicable, for contact details.

If you provide information about someone else to a Harcourts office

If you provide personal information about another person, you should take reasonable steps to make sure that person is aware of this statement and the relevant Harcourts office Franchisee Privacy Policy.

This may include beneficial owners, directors, shareholders, trustees, settlors, beneficiaries, attorneys, authorised representatives, people acting on behalf of a customer, or anyone else whose information is provided for AML purposes.

If you are not able to make that person aware of this statement, please tell the Harcourts office you are dealing with.

What happens if information is not provided?

If the required information is not provided, or cannot be verified, the Harcourts office may not be able to complete its AML/CTF mandatory checks. This may mean the Harcourts office is unable to:

• act for you;
• continue acting for you;
• enter into or continue an agency agreement;
• progress a transaction;
• complete the requested real estate services; or
• take any other step where AML/CTF checks are legally required.

The Harcourts office may also need to take other steps required or permitted by law.

Further information

Further information about how personal information is collected, used, stored, and disclosed can be viewed here: Privacy Policy | Harcourts Property Centre.