M5 Industrial's Approach to AML compliance

From 1 July 2026, new Australian Anti Money Laundering and Counter Terrorism Financing (AML/CTF) legislation is expected to apply to real estate agencies across Australia.

Based on current legislation, these obligations are expected to apply primarily to property sale transactions.

As a regulated reporting entity, M5 Industrial Property Services will be legally required to complete identity verification and compliance checks before providing designated services.

These reforms are regulated by AUSTRAC and apply across the Australian real estate industry to help prevent financial crime and strengthen transparency within property transactions.

What are our obligations?

Under the legislation, regulated businesses may be required to:

  • Verify the identity of clients
  • Understand the nature and purpose of transactions
  • Assess and manage AML risks
  • Maintain accurate records
  • Conduct additional checks where required by law

Where a client is acting on behalf of a company, trust, SMSF or other entity structure, additional ownership and control documentation may also be required.

In some circumstances, we may also be required to request source of funds information as part of standard AML compliance obligations.

These checks are mandatory under Australian law and may need to be completed before certain services or transactions can proceed.

Who may need to be verified?

Depending on the transaction, verification requirements may apply to:

  • Buyers
  • Sellers
  • Directors of companies
  • Trustees
  • Beneficial owners
  • Attorneys acting under power of attorney
  • Representatives acting on behalf of another person or entity

What is KYC and KYB?

KYC stands for “Know Your Customer” and refers to identity verification procedures required under AML legislation.

KYB stands for “Know Your Business” and refers to the verification of companies, trusts and other entity structures involved in transactions.

M5 Industrials AML & KYC process

We have designed our AML and Know Your Customer (KYC) and Know Your Business (KYB) procedures to be secure, efficient and straightforward.

Step 1: Provide your information

We request identity details and relevant supporting documentation.

Step 2: Secure digital verification and screening

Your information is securely verified using approved AML compliance systems.

Step 3: Additional information if required

If further clarification or documentation is needed, we will contact you promptly.

Step 4: Compliance review

We complete the required AML KYC and KYB risk assessment checks.

Step 5: Proceed with your transaction

Once the required compliance checks are completed, we can proceed with your transaction or matter.

Questions?

If you would like more information about our AML and KYC obligations, please contact our team.