Anti-money laundering
When you sell or buy a home with LynchCo, we will ask you to confirm who you are and, at times, a little about the transaction. This page explains why, in plain terms.
What is AML/CTF?
Anti-money laundering and counter-terrorism financing, or AML/CTF, is the set of Australian laws that aim to stop the proceeds of crime being passed off as legitimate money, and to stop money reaching terrorism. Property is a common way to try, which is why real estate is now covered.
Why does LynchCo ask for this information?
Under the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024, real estate businesses that broker the sale, purchase or transfer of property became reporting entities regulated by AUSTRAC, the Australian Transaction Reports and Analysis Centre, from 1 July 2026. LynchCo Real Estate is one of them. The law requires us to know who our clients are before we act for them, to keep records, and to report certain matters to AUSTRAC. AUSTRAC explains the rules for real estate on austrac.gov.au.
What is customer due diligence?
Customer due diligence is the process of establishing who a client is, who benefits from a transaction, and what the transaction is for. We do it before we start a regulated service, such as listing your home for sale or acting for you as a buyer, and we may need to update it while we act for you. It applies to everyone we act for, so being asked is not a reflection on you.
What might we ask for?
Depending on who you are and what we are doing for you, we may ask for:
- your full name, date of birth, occupation and residential address;
- an identity document, such as a driver licence or passport, so we can verify those details;
- for a company, trust or other entity, its registration details and the names of the people who own or control it (its beneficial owners), along with their identification;
- the nature and purpose of the transaction; and
- where the law requires it, information about the source of the funds or wealth involved.
How is the information used?
We use it to meet our legal obligations: to verify your identity, to assess the risk of a transaction, to keep the compliance records the law requires, and to report to AUSTRAC where the law requires it. We do not use it for marketing.
How does LynchCo handle it?
We ask only for what is reasonably necessary. Identity checks are carried out by LynchCo or its identity-verification provider, and the information is held securely with access limited to the people who need it. Following guidance from the Office of the Australian Information Commissioner, we record the details we have verified rather than keeping copies of your full identity documents, unless another law requires us to keep them. Our privacy policy explains how we protect personal information, how long we keep it and how to ask what we hold about you.
What happens if it isn’t provided?
If we can’t complete customer due diligence, the law does not allow us to proceed, so we may be unable to list your home, act for you or continue with the transaction. We will always tell you what we need and why.
If you have a question about any of this, please contact us.
Last updated 21 October 2026.