Legislation passed late last week has added real estate agents, lawyers, and accountants to Australia’s anti-money laundering and terror financing rules, a move that Austrac chief Brendan Thomas has welcomed.
Thomas said the changes will enable him to combat the more than $60 billion in harm that child exploitation, drug trafficking, scams, and human trafficking cause.
The requirement for real estate agents, lawyers, and accountants to comply with Australia’s anti-money laundering and terror financing laws will take effect as of July 2026, which Thomas says will give impacted businesses time to prepare for their implementation.
