Swinburne teams with KordaMentha to create pioneering Financial Crime Lab

A pioneering collaboration between Swinburne University of Technology and KordaMentha is aiming to tackle cybercrime, fraud and money laundering in Australia through the establishment of a Financial Crime Lab to bolster essential skills in the field of detection and prevention.

The initiative will bring together academic learning with real-world experience to combat financial crime by offering Swinburne students employment 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 in Melbourne.

“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,” says Dr John Webster, Swinburne’s senior lecturer in accounting.

“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.”

Swinburne says 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 university estimates the need for these professionals will swell to more than 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,” says Wragg.

“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,” says 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."