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.


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

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 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 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 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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We needed consistent compliance processes for every office and agent across the network, with one system that works the same way. My Databoss gives us that, as well as full confidence that we’ll be protected and audit-ready when Tranche 2 takes effect.”
My Databoss has transformed how we handle client identity verification and compliance. It gives us confidence that obligations are being applied consistently, without disrupting how we work.”
My Databoss is a powerful solution that simplifies compliance across AML/CTF, privacy and cybersecurity – making life safer and easier for both professionals and clients.”
My Databoss allows us to operationalise AML/CTF requirements at scale. It gives head office oversight, clear escalation pathways and a single source of truth for identity, risk and records while keeping the process simple for agents.”



