Swinburne and KordaMentha launch state-of-the-art facility to combat financial crime

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.

KordaMentha's Partner Alice Saveneh-Murray (left) and Swinburne student Julia Urban (right) preparing to fight financial crime.