What we may ask for
Individuals
A form of photo ID (e.g. passport or driver’s licence) and ‘Know Your Customer’ (KYC) details such as residency.
Non-individuals
For companies/trusts, we require individual ID for directors/owners and further details about the entity structure.
Source of Funds
Information regarding source of wealth or funds for higher-risk transactions, such as reason for purchase or method of payment.
Proof of Address
A utility bill or bank statement dated within the last 3 months showing your full name and address.
What happens next?
After you’re contacted by Peet, here’s what the AML/CTF verification process looks like.
Step 1
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You receive an email from Peet
An email is sent from noreplyAML@peet.com.au via First AML with a secure link to begin your identity verification.
Step 2
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Complete verification & upload documents
Provide your photo ID and any required documents electronically via the First AML link, or complete the process in person.
Step 3
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Peet Compliance Team reviews your submission
Our team reviews your submission. Most checks are completed quickly — the process is fastest when documents are provided promptly.
Why do I need to do this for a property transaction?
Buying or selling property is considered a higher risk for money laundering. By law, we must verify your identity and understand where funds are coming from before the transaction can proceed.
Will this delay my sale or purchase?
It doesn’t have to. Most checks can be completed quickly if documents are provided on request. Delays usually only happen if information is missing or needs clarification, so it’s best to complete this as soon as possible.
What if I’m buying via a trust, company or buying with others?
We’ll need to identify and verify the people who ultimately own or control the entity, not just the named buyer or seller. We’ll guide you on exactly what’s needed depending on your structure.
Why are you asking about my source of funds?
For some transactions, we’re required to understand how the money was obtained (e.g. savings, property sale, inheritance). This helps ensure the funds are legitimate and the transaction can proceed.
I’ve already given this information to my bank or lawyer – why again?
Each party involved in the transaction has their own legal obligations and can’t always rely on checks done by others. That means we’re required to carry out this verification.