How Digital Identity Verification Supports Tranche 2 AML/CTF Compliance Across Auctions Live and Offers Live
From 1 July 2026, Australia's Tranche 2 Anti Money Laundering and Counter Terrorism Financing (AML/CTF) reforms extend AML/CTF obligations to a range of additional industries, including real estate services. These reforms require reporting entities to implement risk based procedures for verifying the identity of clients and undertaking customer due diligence before providing certain designated services.
To assist organisations, Auctions Live and Offers Live include an optional Digital Identity Verification service that can be enabled as part of the buyer registration or offer submission process.
While initially designed to support Australian real estate transactions, the workflow has been developed as a flexible digital identity verification solution that may also support other industries where participant identification is required.
Why you may be asked to verify your identity
Digital Identity Verification allows an organisation to confirm that you are who you claim to be before participating in a transaction.
Depending on an organisation's internal AML/CTF program, customer due diligence procedures, and risk assessment protocols, identity verification may be requested:
- ●before registering to bid at auction;
- ●at the time of submitting an offer;
- ●before entering into a contract;
- ●after an auction or offer has been accepted;
- ●at another point determined by the organisation's compliance policies.
Every organisation is responsible for establishing, maintaining and administering its own AML/CTF Program. Auctions Live and Offers Live simply provide the technology that enables Digital Identity Verification where an organisation chooses to use it.
Is Digital Identity Verification mandatory?
Not necessarily.
Digital Identity Verification is an optional feature within Auctions Live and Offers Live and is only available where an organisation has chosen to enable it.
Some organisations may require identity verification before allowing buyers to participate, while others may only request verification later during the transaction. The timing is determined entirely by the organisation's own compliance obligations, AML/CTF Program and internal policies.
Who can currently be verified?
At present, Digital Identity Verification supports:
- ●Australian individuals;
- ●Australian government issued identity documents.
Support for companies, trusts, self managed superannuation funds (SMSFs), incorporated associations and other entity types is not currently available.
How the process works
Where Digital Identity Verification has been enabled, the process is straightforward.
- ●You register to bid or submit an offer.
- ●The system determines whether Digital Identity Verification is required for that transaction.
- ●If required, you'll receive a secure link to complete your Digital Identity Verification. At this point, the applicable verification fee must be paid online by the bidder or buyer before the verification process can begin.
- ●Your identity is securely verified through VerifiMe®.
- ●The verification outcome is securely returned to the RE Software ecosystem.
- ●The organisation reviews the verification result in accordance with its own AML/CTF Program and customer due diligence procedures.
- ●If required, the organisation can print or generate a PDF copy of the verification report for its compliance records.
The process is designed to minimise manual administration while providing organisations with a consistent method of managing Digital Identity Verification across both Auctions Live and Offers Live.
Reusing your Digital Identity Verification
To reduce unnecessary repeat verification, successful Digital Identity Verifications remain reusable across the RE Software ecosystem, including Auctions Live and Offers Live.
Where permitted by an organisation's AML/CTF Program, a completed verification may be reused for up to three months, or until the expiry of the government issued identity document used during the verification process, whichever occurs first.
If either period has expired, a new Digital Identity Verification may be required before participating in another transaction.
What information is collected?
Information collected includes:
- ●your full name;
- ●date of birth;
- ●contact details;
- ●government issued identity document information;
- ●facial image and liveness verification;
- ●other information reasonably required to complete identity verification.
Screening also include Politically Exposed Person (PEP) checks.
Who performs the verification?
Digital Identity Verification is completed by VerifiMe®, an Australian digital identity verification provider.
VerifiMe securely verifies identity using Australian Government approved document verification services and returns the verification outcome to the organisation through the RE Software platform.
Cost
The current cost is $6.60 including GST per individual verification.
Payment is made online by the bidder or buyer at the time the Digital Identity Verification is completed. A tax invoice is automatically issued following successful payment.
Where a valid Digital Identity Verification already exists within the RE Software ecosystem and remains eligible for reuse, an additional verification fee may not be required.
What happens after verification?
If your identity is successfully verified, the organisation receives confirmation that your verification has been completed.
Depending on the organisation's internal procedures, it may then:
- ●approve your registration;
- ●continue its customer due diligence process;
- ●retain the verification report as part of its AML/CTF compliance records.
If a verification cannot be completed, this does not automatically indicate that there is a problem.
Common reasons include:
- ●identity information not matching government records;
- ●expired identity documents;
- ●poor image quality;
- ●incomplete information;
- ●a verification requiring additional review.
In these situations, the organisation may request additional information or undertake its own manual verification process in accordance with its AML/CTF Program.
Protecting your privacy
Identity information is handled securely throughout the verification process.
VerifiMe stores information using Australian based infrastructure and uses it solely for identity verification and compliance purposes. Personal information is not sold or used for marketing. Information may be disclosed to government document verification services and other authorised providers where required to complete identity verification or satisfy regulatory obligations.
For further information regarding how personal information is collected, used and managed, please refer to:
In summary
Digital Identity Verification within Auctions Live and Offers Live provides organisations with a simple, secure and digital method of verifying participants before or during a transaction as part of their Tranche 2 AML/CTF compliance obligations.
For buyers, it offers a convenient way to verify their identity online, with successful verifications able to be reused across the RE Software ecosystem for up to three months, or until the expiry of the government issued identity document used during verification, whichever occurs first.
For organisations, it helps streamline customer onboarding, reduce manual administration and support compliance with their own AML/CTF Program and customer due diligence obligations, while remaining flexible enough for each organisation to determine when and how identity verification forms part of its compliance processes.
Posted 25th June, 2026