Under the federal anti-money laundering laws, which apply to real estate agents from 1 July 2026, an agent who suspects a sale involves the proceeds of crime should:
Correct Answer
C) Submit a suspicious matter report to AUSTRAC and not tip off the client
Real estate agents became reporting entities under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) from 1 July 2026. An agent who forms a suspicion that a transaction involves the proceeds of crime must lodge a suspicious matter report with AUSTRAC within the required time and must not tip off the customer that a report has been or will be made.
Why This Is the Correct Answer
From 1 July 2026 real estate agents are reporting entities under the AML/CTF Act. A suspicion that a sale involves the proceeds of crime must be reported to AUSTRAC in a suspicious matter report, and telling the customer about it is a tipping-off offence.
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