Australia’s financial crime framework is heading into one of its most significant overhauls in years, prompting industry leaders to examine how upcoming regulatory shifts will redefine compliance expectations.
A recent expert-led webinar brought together senior figures from AMP Bank, Deloitte and SymphonyAI to discuss how reforms covering AML/CTF updates, scam codes and outcomes-based regulation will shape the future operating environment for financial institutions.
Rather than viewing these updates as a checklist exercise, the speakers underscored the value of treating regulatory change as a strategic catalyst. They noted that the sector has a clear opportunity to modernise outdated processes, embed automation and build risk-intelligent systems capable of keeping pace with emerging threats.
The panel featured Michelle Reinisch, director of small business and personal banking at AMP; Lisa Dobbin, partner and APAC financial crime lead at Deloitte; and Craig Robertson, financial crime and compliance expert at SymphonyAI. The session was moderated by SymphonyAI vice president for APAC, Albert van Wyk.
The discussion opened with a review of the evolving regulatory environment. The speakers highlighted how Australia’s AML/CTF reforms are moving the industry away from traditional box-ticking towards outcomes-based expectations. This shift is accelerating changes across AML controls, scam reporting requirements and customer due diligence, encouraging firms to balance regulatory urgency with long-term capability building.
Conversation then turned to investment strategy. According to the panel, CEOs and boards are reassessing budgets to align compliance needs with customer experience and cost pressures. They argued that smart investment focuses on foundational improvements—particularly data quality, workflow automation and the ability to detect risk signals early. Detection, they said, is increasingly proving its value across efficiency, compliance uplift and broader harm-reduction goals.
A major focus was the role of artificial intelligence. Vertical AI tools are already moving institutions from reactive responses to proactive threat identification. Operational teams are beginning to deploy AI co-pilots to automate routine tasks, freeing analysts to concentrate on higher-value investigations. The speakers emphasised that human-centred design, clear transparency standards and ongoing communication between teams are key to driving adoption and trust.
Looking ahead, the panel agreed that cultural evolution will define the success of financial crime programmes. Agile leadership, stronger public-private collaboration and a commitment to continuous improvement were identified as essential. With AI governance and explainability increasingly shaping regulatory dialogue, institutions must ensure long-term frameworks support responsible innovation.
The webinar offers practical guidance for firms preparing for the next phase of Australia’s financial crime reform. Watch the webinar here.
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