PEXA unveils AML tool PEXA Clear for property sector
PEXA Group has announced a new compliance product, PEXA Clear, for Anti-Money Laundering and Counter-Terrorism Funding checks in Australia's property sector.
PEXA Group said it plans to launch PEXA Clear in July 2026. The company is working with identity and fraud platform FrankieOne on the product. PEXA Clear also has a training and education partnership with the Real Estate Institute of Queensland.
The announcement targets real estate agencies, conveyancers and legal practitioners. These groups face new obligations under AUSTRAC's AML/CTF regulations for Tranche 2 entities from 1 July 2026.
Product scope
PEXA Group described PEXA Clear as a tool that identifies and reports money laundering and terrorism financing risks during a property transaction. The company said it covers identity verification using selfies and government issued IDs. It also includes Know Your Business and Know Your Customer checks.
PEXA Group said the product includes screenings for potential links to criminal activity. It listed Politically Exposed Persons, sanction checks and adverse media checks. The company said the screenings use local and international data sources.
PEXA Group also said PEXA Clear produces an assessment of overall risk levels in a transaction with justification. It said the product continues to review risk assessments when users change supplied information. The company said the product provides guidance on mitigating or escalating risk. It said the guidance includes what to request and what to document. It also includes when to consider escalation steps such as submitting a Suspicious Matter Report.
PEXA Group said the product includes reporting and audit trails for annual and ad-hoc AUSTRAC reporting. It said the audit trail supports demonstrating compliance.
Workflow fit
PEXA Group said PEXA Clear will sit within existing property transaction workflows. The company said it will record outcomes in a consistent and repeatable way.
Amelia Howell, Head of Customer Growth and Solutions, PEXA Clear, said PEXA Group's role in electronic property settlement gives it insight into where risks arise.
"For over a decade, PEXA Group has been at the heart of the property settlement journey in Australia, continually innovating to enhance its benefits to the industry and the nation's economy. The Group has a comprehensive view of not just the complexities, but also the touchpoints for risk in a property transaction. PEXA Clear is a result of this insight, designed to identify and report money laundering and terrorism financing risks throughout the transaction process.", said Amelia Howell, Head of Customer Growth and Solutions, PEXA Clear, PEXA Group.
PEXA Group said PEXA Clear uses the same data security standards as other PEXA Group products.
"Purpose-built for the Australian property industry, PEXA Clear is underpinned by the same trusted data security standards customers expect from wider PEXA Group solutions. With PEXA Clear, we're empowering practitioners and real estate professionals to meet their compliance obligations efficiently, consistently and with confidence," Ms. Howell said.
Partner roles
PEXA Group said FrankieOne will provide identity, Know Your Business and risk orchestration technology as part of the joint development work.
"PEXA Clear represents a significant step forward for the property industry, and we are excited to be working with PEXA Group to deliver a world-class AML and identity solution," said Simon Costello, CEO of FrankieOne.
"By combining FrankieOne's best-of-breed identity, KYB and risk orchestration capabilities with PEXA Clear's deep understanding of property workflows, we are enabling businesses and individuals to be verified in a highly automated, seamless way. This reduces friction for designated service providers, while ensuring strong, consistent compliance outcomes as Tranche 2 obligations come into effect.", said Costello.
Alongside the technology build, PEXA Group said it will work with the Real Estate Institute of Queensland on training for real estate agents. The company said PEXA Clear will also provide training support for conveyancers and legal practitioners. It said this work will focus on AML/CTF obligations and on embedding AML checks into everyday practice.
Roll-out plans
PEXA Group said it will make product demonstrations available immediately. It said it will run roadshows across Australia from February. The company said registrations for PEXA Clear open on 31 March 2026.
PEXA Group operates PEXA Exchange, an electronic lodgement network used for property settlements. The company said PEXA Clear is unrelated to PEXA Exchange.