Swinburne and KordaMentha launch Financial Crime Lab facility to combat financial crime
Photo: Swinburne Vice-Chancellor Professor Pascale Quester (left) and KordaMentha Partner Mark Korda (right) at the Financial Crime Lab launch.
Swinburne University of Technology and KordaMentha are taking bold action against the billions of dollars laundered in Australia through financial crime, with the launch of the new KordaMentha Implementation Services: Financial Crime Lab.
The pioneering industry-university collaboration is aimed at addressing the growing impact of financial crime, including fraud, the increasing cyber threat to Australian businesses and tough new anti-money laundering (AML) and counter-terrorism financing (CTF) laws.
The initiative brings together academic learning with real-world experience combating financial crime. In addition to their studies, Swinburne students will earn as they learn, employed by KordaMentha to gain hands-on experience in anti-money laundering, while developing their skills in the state-of-the-art Financial Crime Lab on Swinburne’s Hawthorn campus.
“The Financial Crime Lab will enable students to work directly with KordaMentha’s specialists fighting financial crimes impacting Australia’s business sector and the community as a whole,” said Swinburne’s senior lecturer in accounting, Dr John Webster.
“The lab also directly addresses the huge surge in financial crime, including cybercrime, by preparing students to step into roles that protect businesses, individuals, and the economy.”
The lab will help address the massive skills gap putting Australian consumers and businesses at risk, including the shortfall in workers in rapidly growing anti-money laundering and counter-terrorism funding enforcement. The need for these professionals will swell to over 100,000 in the coming years, with only a fraction of this number in the workforce today.
Acting Executive Dean of Swinburne’s School of Business, Law and Entrepreneurship Professor Nicki Wragg says the lab represents a pioneering model of industry and university collaboration.
“This partnership brings the best of industry and academia together to benefit students, benefit the economy and benefit the victims of financial crime,” Professor Wragg said.
“We know that industry is crying out for skilled financial crime fighters. We’re proud to offer students a fast-tracked pathway into the workforce, while partnering closely with industry to ensure they’re getting the workforce they need, now.”
The secure, on-campus facility will also host guest lectures and offer real-world learning, with students employed by KordaMentha receiving additional leadership, coaching, training and educational support.
“The launch of the Financial Crime Lab reflects our commitment to fostering talent and addressing the critical need for skilled anti-money laundering and counter-terrorism funding professionals,” said Alice Saveneh-Murray, Partner at KordaMentha.
“By providing students with practical, hands-on experience, we are enhancing their employability while also contributing to the broader effort to combat financial crime in Australia.”
By equipping students with the practical tools and experience required to handle emerging threats, Swinburne and KordaMentha are fostering the next generation of financial crime experts and protecting both individuals and businesses while supporting the Australian economy.
Enhancing education with industry engagement
The Financial Crime Lab is an initiative from Swinburne’s School of Business, Law, and Entrepreneurship, aimed at providing students with real-world experiences that align with today’s evolving business landscape.
