From 1 July 2026, every reporting entity in a property transaction has to complete its own AML/CTF checks. In a single sale, that can mean the agent, a buyer’s agent, and the lawyer or conveyancer all running the same checks on the same client. Reliance is part of the legislation designed to fix that.
In our recent webinar, AML/CTF Reliance, Mark Pinto, Major Account Manager at triSearch, and Craig Matheson, Partnerships Growth Manager at Securexchange, unpacked what Reliance is, why it exists, and how firms can turn it into a business advantage. Here’s the recap.
What Reliance is and why it exists
Reliance is a mechanism written into the AML/CTF legislation. It is not a product. It lets one reporting entity rely on the AML checks another has already completed for a shared client, supported by a formal Reliance Agreement between the two parties.
When AUSTRAC designed the Tranche 2 obligations, it recognised that property transactions often involve several reporting entities dealing with the same client. Without Reliance, each party duplicates the same checks. With Reliance, one party completes them, and the others rely on those checks, which means less duplication for firms and a lighter load for the client.
Importantly, Reliance is not outsourcing your obligations. Both parties remain in separate reporting entities, each responsible for their own AUSTRAC reporting, policies, and risk assessments. What Reliance shares is the initial due diligence.
Why this is an opportunity, not just an obligation
Now that the 1 July deadline has passed, firms must complete onboarding for every client. This includes identity verification, PEP, sanctions and adverse media screening, a know your client (KYC) questionnaire, risk assessment and enhanced due diligence where required.
Because you are already doing this work, Reliance provides a way to turn compliance into business development. Referrals between agents and conveyancers are often informal. A Reliance Agreement formalises the relationship, giving agents a trusted compliance partner and positioning your firm as the practice they refer work to.
The benefit runs in every direction. Your firm gains a structured referral channel and relationships that are harder for competitors to displace. Agents get less duplication and a smoother experience for their clients. Clients get one onboarding process instead of several, removing repetition from an already complex transaction.
The three steps of Reliance
Reliance works in three steps:
- Establish a Reliance Agreement: This is the formal deed setting out the obligations between your firm and the agency.
- Complete onboarding as normal: Nothing changes operationally. You carry out onboarding exactly as your AML/CTF obligations already require.
- Securely share the completed onboarding: The checks are shared through the technology workflow, so the agent can rely on them and the client is not asked for the same information twice.
To see how the Reliance process works inside the triSearch Compliance Centre, watch the full recording below.
The takeaway
Reliance is a legislative mechanism, not a product. It reduces duplication in AML onboarding, and it turns compliance work you have to do anyway into a referral opportunity. The firms that move early stand to gain the most, because agents will naturally consolidate their work with the practices that make compliance easier for them.
Frequently asked questions
- Does the agent still have to meet their own AUSTRAC obligations under Reliance?
- Yes. Reliance is not outsourcing. Both parties remain separate reporting entities, each responsible for their own policies, risk assessments, and AUSTRAC reporting.
- What information does the agent send to request onboarding?
- Only the client’s contact details, such as name, email, and address. A contract of sale is not needed to begin, though your own policies may differ.
- Who signs the Reliance agreement, a Director or a Compliance officer?
- As a formal agreement between two businesses, it is signed by the governing body, usually the director. Some agencies may need two signatories, such as a director and secretary.
- How long does a Reliance agreement last?
- The templated agreement offers terms of 3, 6, or 12 months. You can also set one up to cover a single transaction. and the arrangement can stay in place for as long as you need.
- Do we need one Reliance agreement per agency, or one per individual agent?
- One per agency, in most cases. It is signed at the business level, which covers the staff working under it. The exception is an agent who runs their own business under a separate ABN, who may need their own.
- How is the completed due diligence shared securely between parties?
- The summary is not emailed or sent as a document. It is shared through a secure connection between triSearch and Securexchange, so the agent receives the completed onboarding without the client’s personal information passing through unsecured channels.
We covered plenty more questions in the session. Watch the full recording below for the complete discussion.
Join our AML/CTF Check-In sessions
Still have questions about AML/CTF? Join our monthly live sessions, where you can submit your questions and hear practical answers from industry experts.
Our first session takes place on 15 July 2026. Register now to be part of the conversation.
To access the triSearch Compliance Centre or book a demonstration, visit the AML/CTF Compliance Centre page.
For access issues, please submit a ticket here.
