Real estate agents will not have to stop a transaction if a client refuses to hand over the detailed information required under new anti-money laundering rules next year, agents and the financial crimes watchdog say.

The reforms requiring an estimated 90,000 extra businesses across sectors – including real estate – to fulfil know-your-customer obligations akin to those of banks, will not require them to abort a deal if that information is not available, Real Estate Institute of Australia president Leanne Pilkington said.