KordaMentha brings academic muscle to financial crime fight

Advisory and investment firm KordaMentha has announced the establishment of a “pioneering” research facility, in partnership with the University of Swinburne, dedicated to stamping out financial crime.

The newly launched Financial Crime Lab, based in Swinburne’s Hawthorn campus in Melbourne, will be tasked with investigating and researching critical areas of concern within the field, including financial fraud, cybercrime, and new anti-money laundering (AML) and counter-terrorism financing (CTF) laws.

Students will gain “practical, hands-on experience” in combating financial crime, KordaMentha said, with the goal of “fostering the next generation of financial crime experts”.

“The initiative “brings together academic learning with real-world experience in combating financial crime”, with students working directly with the firm’s financial crimes specialists.

Lab students will also have the opportunity to “earn as they learn” with KordaMentha, with Lab students employed by the firm also receiving additional leadership, coaching, training and educational support.

Swinburne’s senior lecturer in accounting, Dr John Webster said the “lab… 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 also serve as an incubatory environment for students to enter the workforce, addressing the “massive skills gap” in the enforcement of ML/TF funding.

Demand for such professionals will swell to more than 100,000 in the coming years, according to KordaMentha, with “only a fraction of this number” in the current workforce.

“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,” said acting executive dean of Swinburne’s School of Business, Law and Entrepreneurship Professor Nicki Wragg

Alice Saveneh-Murray, partner at KordaMentha added: “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.”

“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.”