Anti Money Laundering (AML/CTF)
What this means for you as a JACX client
From 1 July 2026, Australia’s Anti Money Laundering and Counter Terrorism Financing (AML/CTF) laws expanded to include commercial real estate professionals involved in certain property transactions and advisory services.
These reforms are designed to help prevent financial crime and bring Australia in line with international standards.
As a result, JACX is legally required to verify the identity of our clients, understand who we are acting for, and gain an understanding of the work we are being engaged to undertake.
While these requirements are new for the property industry, they have long been standard practice for banks, accountants and financial institutions.
Why we may ask for additional information
These requirements are established under Australian law and regulated by AUSTRAC.
Commercial property transactions can involve significant assets, multiple entities and complex ownership structures. The AML/CTF legislation requires businesses such as JACX to understand who they are acting for and the purpose of each engagement.
Depending on the nature of your instructions, we may need to:
- Verify your identity
- Confirm who we are acting for
- Understand the purpose of the engagement or transaction
- Verify company, trust or ownership information
- Obtain additional information where a matter presents a higher level of risk
These checks help protect clients, businesses and the broader Australian financial system.
What this means for you
For most clients, the process will be straightforward and completed at the commencement of our engagement.
You may be asked to provide:
- Proof of identity
- Company, trust or SMSF details (where applicable)
- Information about directors, shareholders, trustees or beneficial owners
- Information about the property or transaction
- A brief explanation of the purpose of the engagement
In many cases, this information only needs to be collected once and can be used for future engagements, provided your circumstances have not changed.
Completing your verification
To make the process as simple and efficient as possible, JACX uses a secure online identity verification platform.
Where verification is required, you will receive an email containing a secure link to complete the process online. You can upload your identification documents from your computer or mobile device, and the process typically takes only a few minutes.
If additional information is required, one of our team members will contact you directly.
Why these checks are required
Under Australia’s AML/CTF legislation, JACX is required to:
- Know who we are acting for
- Understand the nature and purpose of our engagement
- Assess the level of money laundering and terrorism financing risk associated with the engagement
- Report suspicious activity where required by law
These obligations apply to all regulated businesses and cannot be waived, even where we have acted for a client for many years.
How your information is handled
We understand the importance of protecting your personal information.
Information collected for AML/CTF purposes:
- Is used solely to meet our legal obligations
- Is stored securely using industry standard security measures
- Is accessed only by authorised personnel
- Is retained only for the period required by law
- Is disclosed only where required by law
JACX does not use information collected for AML/CTF purposes for marketing without your consent.
Our commitment to clients
We recognise these additional requirements are new for many clients and may raise questions.
Our objective is to make the process as straightforward and efficient as possible while meeting our legal obligations. If you have any questions about why information has been requested, or what is required, our team will be pleased to assist.
Thank you for your understanding and cooperation.
Need assistance?
If you have any questions regarding our AML/CTF obligations or the identity verification process, please contact the JACX team.
We are happy to explain the requirements and guide you through the process.
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Frequently Asked Questions
Why is JACX asking for my identification?
From 1 July 2026, Australia’s Anti Money Laundering and Counter Terrorism Financing (AML/CTF) laws apply to certain commercial real estate services.
As a result, JACX is legally required to verify the identity of many of our clients before providing designated services. These requirements are similar to those already followed by banks, financial institutions and many legal and accounting firms.
Does this mean you suspect me of wrongdoing?
No.
These requirements apply to all clients where the legislation requires us to undertake customer due diligence. Being asked to provide information is a normal part of the process and does not indicate any concern about you or your transaction.
Why have I never been asked before?
The AML/CTF laws were expanded from 1 July 2026 to include certain services provided by commercial real estate professionals.
This means businesses such as JACX now have legal obligations that did not previously apply.
Who needs to complete identity verification?
This depends on the type of engagement.
Verification may be required for:
- Individuals
- Companies
- Trusts
- Self Managed Super Funds
- Partnerships
- Other entities involved in the engagement
Where a company or trust is involved, we may also need to identify the individuals who own or control the entity.
What information might I be asked to provide?
Depending on the engagement, we may ask for:
- Government issued identification
- Company or trust information
- Details of directors, trustees or beneficial owners
- Information about the purpose of the engagement
- Other information required to satisfy our legal obligations
Not every client will be asked to provide the same information.
What is a beneficial owner?
A beneficial owner is generally the individual or individuals who ultimately own or control a company, trust or other entity.
The law requires businesses like JACX to understand who ultimately controls the client we are acting for.
How do I complete my identity verification?
Where verification is required, JACX will send you a secure email invitation to complete the process.
The online process is simple, secure and can usually be completed in just a few minutes.
If additional information is required, one of our team members will contact you directly.
Is my personal information secure?
Yes.
Protecting your personal information is extremely important to us.
Information collected for AML/CTF purposes is securely stored and used only to meet our legal obligations. Access is restricted to authorised personnel and information is only disclosed where required by law.
Will I need to do this every time I engage JACX?
Not necessarily.
Where we have already completed verification, we may be able to rely on the information we already hold. However, we may need to update your information if:
- Your circumstances have changed
- Your ownership structure has changed
- The nature of the engagement changes
- The law requires updated information
Will these checks delay my transaction?
In most cases, no.
Identity verification is usually completed within a few minutes when clients respond promptly.
Providing the requested information early helps avoid unnecessary delays later in the engagement.
What if I am purchasing or selling through a company or trust?
This is common in commercial property.
In addition to verifying the entity, we may also need information about directors, trustees, shareholders or beneficial owners, depending on the ownership structure.
Our team will advise exactly what is required.
Why are you asking about the purpose of the transaction?
The legislation requires us to understand the nature and purpose of the services we are providing.
In some cases, we may ask questions about the transaction so we can meet our AML/CTF obligations.
What happens if I choose not to provide the requested information?
Unfortunately, if we cannot complete the customer due diligence required by law, we may be unable to commence or continue providing services that are regulated under the AML/CTF legislation.
Will JACX share my information with anyone else?
Your information will only be shared where permitted or required by law.
JACX does not sell or disclose your personal information for marketing purposes.
Who can I contact if I have questions?
If you have any questions about our AML/CTF obligations or the identity verification process, please contact the JACX team.
We will be pleased to explain the requirements and guide you through the process.
Please note: The information on this page is intended as general guidance only. AML/CTF obligations vary depending on the nature of the engagement and the applicable legal requirements. JACX may request additional information where necessary to comply with Australian law.