A WA agent becomes aware that their client intends to use the property for illegal purposes after settlement. Does the agent have any reporting obligation?
Correct Answer
A) The agent may need to report the suspicion to AUSTRAC without tipping off the client
From 1 July 2026, real estate agents who provide designated services in buying or selling property are reporting entities under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth). If an agent forms a suspicion that a customer or transaction may be connected with criminal activity, the agent must lodge a suspicious matter report with AUSTRAC and must not tip off the customer that a report has been or will be made.
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