Massive fines await real estate professionals in breach of new money laundering laws
Hefty fines and penalties may be applied to a broad cross-section of real estate professionals who fail to adhere to new anti-money laundering laws that will take effect next year.
The Federal Government must launch education services for real estate agents and other property professionals if it wants compliance with its new anti-money laundering laws, says the Real Estate Institute of Australia.
Real estate agents and other property industry professionals will face potentially massive fines from 1 July 2026 if they fail to comply with the new laws, passed late last year.
In late November — 18 years after the initial la…