Australia is entering a decisive phase of regulatory change as financial crime reforms reshape how banks and financial institutions approach compliance.
In a recent webinar, senior leaders from AMP Bank, Deloitte and SymphonyAI examined how new AML/CTF rules, scam codes and a shift to outcomes-based oversight are setting a new standard for the sector.
The discussion framed the reforms not as administrative burdens, but as catalysts for broader transformation. Institutions that invest early in modernisation, automation and risk-intelligent processes stand to benefit from stronger compliance outcomes, reduced operational drag and improved customer experience.
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.
Speakers outlined a regulatory landscape that is quickly evolving. Australia’s AML/CTF overhaul is pushing the industry away from rigid tick-box processes and towards an outcomes-based framework. This approach demands faster reporting, enhanced due diligence and scam-related controls that are agile enough to respond to fast-moving threats.
Strategic investment was another major theme. With CEOs and boards reconsidering budgets, the webinar highlighted the importance of building foundational capabilities, including high-quality data and automated workflows. These tools underpin quicker and more accurate risk detection, which in turn delivers stronger returns across compliance, efficiency and customer safety.
Artificial intelligence emerged as a critical enabler of this shift. AI-driven systems are beginning to provide proactive and scalable support for financial crime teams, helping analysts focus on complex investigations rather than routine tasks. The speakers emphasised that human-centred design, transparency and governance standards will be crucial for maintaining trust and fostering adoption.
The session concluded with a call for cultural evolution across the industry. Strong leadership, ongoing collaboration and continuous capability improvement will be essential as institutions prepare for a more dynamic, technology-driven regulatory environment.
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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