INDUSTRIES | REAL ESTATE & PROPERTY

Property is not just a place to live, it’s a store of value 

INDUSTRIES
REAL ESTATE & PROPERTY

Property is not just a place to live, it’s a store of value 

Real estate is one of the highest-risk sectors for money laundering globally, as it converts large sums of money into long-term, appreciating assets.

This captures sales agents, conveyancers, settlement agents and anyone facilitating property transfers or handling transaction funds. AML/CTF obligations apply before a designated service is provided. 

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Whitepaper: Tranche 2 AML/CTF Reform in Australia 

What real estate professionals must know – and how to prepare

If you provide any of these services, Tranche 2 applies:

  • Acting for buyers or sellers of property
  • Facilitating the transfer of property ownership
  • Receiving or handling deposits or settlement funds
  • Managing trust accounts for property transactions
  • Acting for foreign, corporate or trust-based buyers
  • Assisting with property development or structuring

The My Databoss team understands the Australian regulatory environment and the realities of the property sector. That local expertise gives us confidence we’re aligned with AUSTRAC expectations. It moves us beyond checklists to a governed, systemised approach to compliance.”

– Brent May, Chief Operating Officer, (COO) DiJones

Your roadmap to compliance and beyond ​

From 1 July 2026, real estate and property organisations that provide one or more designated services are, for the first time, classified as reporting entities under the AML/CTF Act.

Key compliance steps:

  • Appoint an AML/CTF Compliance Officer
  • Enrol with AUSTRAC
  • Conduct a risk assessment
  • Maintain a formal AML/CTF program
  • Identify and verify clients – known as Customer Due Diligence (CDD)
  • Run risk-based client assessments
  • Monitor client behaviour and transactions
  • Report suspicious matters to AUSTRAC
  • Keep auditable records
  • Train staff in AML/CTF obligations
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From a regulator’s perspective, what you cannot prove did not happen.​

The cost of getting it wrong

In Australia, non-compliance penalties can reach $22 million per breach, plus daily penalties of around $18,000. AUSTRAC and FATF expect group-wide consistency and accountability. Recent enforcement actions – including CBA ($700M) and Westpac ($1.3B) – demonstrate the regulator's posture.

Type of Failure

Financial Impact

Late or inaccurate reporting $50K–$200K per breach
System weakness or ongoing failure $1M–$30M+ potential penalties
Severe or systemic non-compliance Business-threatening enforcement

Figures based on current penalty-unit values.

 

In 2023–24, the cost of organised crime to Australia grew to $82.3 billion, a sharp $13.6 billion increase from $68.7 billion the previous year.*

 

Old way
Manual processes and fragmented tools

  • Policy documents in a folder
  • Identity stored in emails
  • Risk in someone’s head
  • Ad hoc monitoring
  • Manual spreadsheet reports
  • Training by word of mouth 

New way
Integrated, end-to-end AML/CTF workflows

  • Live compliance system
  • Verified identity records
  • Documented, scored risk ratings
  • Ongoing alerts and reviews
  • Logged, timestamped reports
  • Recorded, trackable training 

Meet My Data Boss

 

Greta-Menzies-CEO

Greta Menzies


CEO

Greta is an AI and data governance expert with nearly two decades of experience delivering enterprise-scale transformation across finance, government and universities. With a strong track record in machine learning adoption and data strategy, she has led complex programs for major banks, retailers and institutions. At My Databoss, Greta has assembled a high-calibre team to execute on a bold vision: redefining secure data management for the AI era, with a platform built for scale, compliance, and global impact.

James-Murphy-COO

James Murphy


COO

James is a seasoned executive and operations leader with over two decades of experience across financial services, technology and data platforms. As a founding executive and CFO of a high-growth fintech that successfully scaled and exited to an ASX-listed company, he brings deep expertise in SaaS operations, cybersecurity, risk management and compliance. James plays a pivotal role at My Databoss, ensuring the business is built on strong operational foundations and ready to scale with integrity and confidence.

Kelly-Ryan-CGO

Kelly Ryan


CGO

Kelly RyanCGOKelly is a seasoned executive with over 20 years of experience leading major national organisations across the sports, entertainment and real estate sectors. Known for her strategic vision and commercial acumen, she has driven the growth and transformation of high-profile brands through innovation and modernisation. At My Databoss, Kelly leads market expansion and strategic partnerships, ensuring the business continues to deliver game-changing solutions that empower organisations globally.

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You don’t have to figure this out alone

I'm here to help. Book a complimentary 15-minute AML risk profile assessment and I'll walk you through where your business stands today, what to prioritise and how to operationalise your obligations before 1 July 2026.

– Raji Lal, National Sales Executive

Call: 1300 512 387