Understanding Multi Dynamic's AML/CTF requirements and customer identity verification process.
From 1 July 2026, Australian real estate businesses providing designated services are required to comply with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 and associated requirements. The information below explains what this means for Multi Dynamic clients.
AML/CTF laws are designed to prevent legitimate businesses and property transactions from being misused for money laundering, terrorism financing, proliferation financing and other serious financial crime. Multi Dynamic must apply appropriate compliance checks when providing regulated real estate services.
Multi Dynamic may be required to verify the identity of vendors, successful purchasers and other relevant parties before or while providing certain real estate services. These checks are a legal requirement and are applied according to the customer, ownership structure, transaction and identified risk.
Customer Due Diligence, or CDD, is the process of identifying and verifying a customer, understanding the nature and purpose of the transaction, confirming who owns or controls an entity and assessing relevant money laundering and terrorism financing risks. Additional checks may be required where a matter presents a higher level of risk.
Depending on the circumstances, we may request your full name, date of birth, residential address, occupation, contact details and information from a current government-issued identification document, such as a driver licence or passport. We may also request information about the transaction and, where required, evidence relating to the source of funds or source of wealth.
Where a customer is a company, trust, partnership, self-managed super fund or another legal entity, we may need information and supporting documents about the entity, its authorised representatives, directors, shareholders, trustees, appointors, beneficiaries and beneficial owners or controllers. This allows us to understand who ultimately owns, controls or benefits from the entity.
Information collected for AML/CTF purposes may be used to verify identity, assess and manage risk, maintain required records and meet legal or regulatory reporting obligations. Multi Dynamic will handle personal information securely, limit access to authorised personnel and service providers, and disclose information only where required or permitted by law.
If required information or documents are not provided, Multi Dynamic may be unable to commence or continue certain services, including services connected with listing, marketing or facilitating a property transaction. Providing the requested information promptly will help reduce delays and allow the verification process to be completed efficiently.
Multi Dynamic is committed to making the process clear and straightforward. We will explain what is required, assist you through the verification process, request only information reasonably necessary for compliance purposes and handle your information professionally and securely. Please contact your Multi Dynamic representative if you have any questions.
Visit the official AUSTRAC website: About the AML/CTF reforms