Anti-Money Laundering Obligations
Customer Identification and Anti-Money Laundering Requirements
At Cutcliffe Properties, we are committed to helping protect Australia's financial system from misuse through money laundering and terrorism financing from 1 July 2026. These are serious crimes that can undermine the integrity of the property market and wider economy.
Under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and associated rules, Cutcliffe Properties is required to carry out Customer Due Diligence (CDD) on clients engaging in certain real estate transactions. This means we must collect and verify identification details for our clients before providing services.
Why we need this information
The purpose of Customer Due Diligence is to confirm your identity, understand who we are dealing with, and ensure our services are not being used for unlawful activity. These obligations apply to both vendors (sellers) and purchasers (buyers) involved in real estate transactions.
We appreciate your cooperation in helping us uphold these important compliance standards.
Information We May Request
When engaging with Cutcliffe Properties, we may request information including:
- Full name
- Date of birth
- Residential address
To verify these details, you may be asked to provide:
- Acceptable photo identification (such as a current passport or driver's licence)
- A document confirming your residential address (for example, a recent utility bill or bank statement)
If you are acting on behalf of a company, trust, or other entity, we may also need to collect information relating to that organisation and the individuals associated with it, including company directors, shareholders, trustees, and beneficiaries. In some cases, additional supporting documentation may be required.
Privacy And Use of Personal Information
Cutcliffe Properties is committed to protecting your personal information and handling it in accordance with the Privacy Act 1988 (Cth) and the Australian Privacy Principles.
Any personal information collected as part of our anti-money laundering and Customer Due Diligence obligations will only be used for the purpose of complying with applicable laws, including the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth).
We take reasonable steps to ensure personal information is stored securely and is only accessed, used, or disclosed where permitted or required by law.
Further information about how Cutcliffe Properties collects, uses, stores, and discloses personal information, and how you may access or correct your information, is available in our Privacy Policy.
For Vendors (Sellers)
If you are selling a property through Cutcliffe Properties, we are required to verify your identity and the beneficial ownership of any entity involved before listing or marketing the property. This helps ensure property assets are not used to conceal or transfer unlawful funds.
For Purchasers (Buyers)
If you are purchasing a property, we are also required to complete due diligence checks before the transaction proceeds. This includes confirming your identity and, where applicable, the details of any organisation or trust involved in the purchase.
Your cooperation assists us in meeting our obligations to all parties and complying with Australian law.
When Services Can Commence
Legally, Cutcliffe Properties cannot proceed with services such as listing, marketing, or completing a property transaction until the Customer Due Diligence process has been completed. This requirement applies equally to both vendors and purchasers.
We thank you for your understanding and cooperation in meeting these important compliance obligations.
For more information about Australia's AML/CTF regime, please visit AUSTRAC's website.