How do all sales agents at a real estate agency get covered - does each agent need access?
Yes, every staff member who performs a designated service needs to be on the platform with the right role and completed training.
Every staff member who actually performs a designated service needs to be on the platform with the right role and completed training. For a real estate agency this means all front-line sales agents, not just the principal or the back-office administrator.
Why this is a strict requirement under AUSTRAC's rules:
- Training. AUSTRAC Rules 5–18 require each person who performs a designated service to complete initial training before they provide the service, and to keep that training current.
- CDD requirements. The person dealing with the customer is the person who often has the best understanding of potential ‘red flags that may surface as part of CDD. A back-office team doing CDD after the fact creates a gap between the moment of designated-service provision and the verification.
- Audit trail. AUSTRAC requires clear information to see who did what - running everything through one shared login defeats the audit log and breaks PDD requirements.
See AUSTRAC's Summary of changes for current reporting entities for the training and oversight expectations.
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