What is AustracCheck?

AustracCheck is a compliance workspace tool for Australian real estate agencies. It provides document templates, checklists, trackers, reminders and an audit log. It is not a law firm, not a compliance service, and does not file anything with any regulator. Every compliance decision is made by your agency.

Does AustracCheck give legal advice?

No. AustracCheck does not provide legal advice. Nothing on the platform, in any generated document, or in any email we send is legal advice. If you need advice on how the AML/CTF Act or any other law applies to your agency, consult a qualified Australian legal practitioner.

Does AustracCheck submit anything to AUSTRAC or any other regulator?

No. AustracCheck does not submit, lodge, or file any document with AUSTRAC, the Australian Business Register, or any other authority. Any form or report that needs to be lodged must be lodged by your agency through the regulator's own channels.

Does AustracCheck verify customer identity?

No. AustracCheck's scan mode collects identity documents and a selfie for your review, but it does not verify identity in a legally binding way. Your agency is responsible for reviewing the collected documents and making the identity verification decision.

Are AustracCheck's sanctions checks a substitute for formal screening?

No. AustracCheck runs supplementary checks against publicly available sanctions lists (such as the DFAT Consolidated List and the UN Security Council Consolidated List). These checks are informational. They are not a substitute for a commercial sanctions screening provider if your risk profile requires formal screening.

What does the readiness score on the dashboard mean?

The readiness score measures the proportion of setup tasks you have completed through the platform. It is a progress indicator, not a legal compliance certification. A score of 100 does not mean your agency is legally compliant. Compliance is determined by the law and the regulator.

Who is responsible for compliance decisions when using AustracCheck?

Your agency is. AustracCheck is a workspace tool. Every regulatory decision made through or alongside the platform — customer due diligence outcomes, sanctions and PEP assessments, suspicious matter report filings, record retention, staff training, and responses to regulator queries — is your agency's decision.

Are real estate agencies captured under AUSTRAC Tranche 2?

Most are. If your agency provides designated services — brokering property sales or purchases, selling or transferring real estate — and has a geographical link to Australia, you are likely a Tranche 2 reporting entity from 1 July 2026.

What does my agency have to do by 1 July 2026?

At minimum: enrol with AUSTRAC, document an AML/CTF program (Part A risk-based + Part B customer due diligence), train staff, keep records for seven years, and lodge any reportable transactions. The exact obligations depend on your services and risk profile.

Does AustracCheck file anything with AUSTRAC?

No. AustracCheck is a workspace tool. It generates templates, checklists, trackers, and an audit log. Every report you need to lodge with AUSTRAC, your agency lodges through AUSTRAC's own channels.

How quickly can my agency be set up?

Most agencies are using the workspace the same day they sign up. The platform tailors templates and a compliance checklist from a short onboarding questionnaire (10–15 minutes). Review, customise, and adopt at your own pace.

What are the penalties for non-compliance?

Up to $33 million for companies and $5.5 million for individuals per breach, plus potential criminal prosecution for serious offences such as tipping off. AUSTRAC publishes enforcement outcomes regularly.

AUSTRAC AML/CTF compliance checklist for real estate agents

AustracCheck is a workspace tool; your agency owns every compliance decision. This checklist is the sequence most agencies follow. Use it as a planning artefact — each item lists what AustracCheck covers and what stays with you.

1. Confirm you are captured

If you provide a designated service (brokering, selling, or transferring an interest in real property) with a geographical link to Australia, you are captured. Buyer's agents and property developers are captured under the same Tranche 2 amendments.

2. Enrol with AUSTRAC

Enrolment opens 31 March 2026 via AUSTRAC Online. Your agency lodges this directly. AustracCheck does not lodge on your behalf, but the platform tracks status and the enrolment-number record.

3. Adopt a written AML/CTF program

Part A is your risk-based framework. Part B sets out how you identify and verify customers. The program must be approved by the principal and reviewed periodically. AustracCheck generates a tailored draft from your onboarding questionnaire; the principal owns adoption and review.

4. Risk-rate your customer types and channels

Classify customers (individual, company, trust, foreign buyer, PEP) and channels (in-person, online, agent-introduced). Higher-risk combinations get enhanced due diligence. AustracCheck ships defaults; you tune them for your agency mix.

5. Build the customer due diligence workflow

Every captured deal: identify each party, verify identity to the program's standard, capture beneficial ownership for companies and trusts, and document the decision. AustracCheck runs this per customer.

6. Screen against sanctions and PEP lists

DFAT consolidated sanctions list and UN sanctions list are mandatory. PEP screening is a risk-based component. AustracCheck runs daily list refreshes; the platform flags hits, your agency decides next steps.

7. Set up reporting workflows

Threshold Transaction Reports (TTR) for cash or cash-equivalent transactions $10,000 AUD and over; Suspicious Matter Reports (SMR) when you form a suspicion. AustracCheck generates AUSTRAC-format drafts; your agency lodges via AUSTRAC Online.

8. Train your staff

Annual training, role-specific. Sales agents, property managers, principals, admin staff. AustracCheck's Training Center ships modules and per-staff completion certificates the audit log retains.

9. Set seven-year record retention

Customer files, transaction records, sanctions screening results, training certificates, and program-amendment history all need seven-year retention. AustracCheck's audit log keeps every action timestamped and exportable.

10. Schedule the independent review

The Act requires periodic independent review of the AML/CTF program. AustracCheck does not perform reviews; you engage an external reviewer (lawyer, compliance specialist) and store their report against the program record.

AUSTRAC AML/CTF compliance checklist for real estate