Australia’s AML/CTF reforms are just months away, and financial crime leaders face a defining moment. A recent webinar featuring industry figures from Deloitte, AMP, and SymphonyAI offered sharp guidance on the leadership mindset and collaborative approaches needed to succeed through 2026 and beyond.
Deloitte partner and Australia and APAC financial crime lead Lisa Dobbin urged leaders to stay focused amid the noise of reform. Dobbin said, “Above all else, you’ve got to continue to manage your risk. That’s the prime thing to do. But within all of that, make space for the potential innovation in the future, even if you can’t get to it now.”
She also highlighted AUSTRAC’s openness to engagement as a resource too few organisations are exploiting. Dobbin said, “Just be really open to engaging with AUSTRAC on how you’re thinking about navigating these challenges you’re having. They’re the first to admit they don’t have all the answers, and they’re very willing and keen and open learners of what everyone’s dealing with and how they’re grappling with both the challenges and the opportunities in this space.”
AUSTRAC chief executive Brendan Thomas has signalled a clear move away from tick-box compliance towards regulation focused on substantive risk and real-world harm — a shift that hands industry both influence and accountability in equal measure.
SymphonyAI financial crime and compliance SME – APAC Craig Robertson urged firms to define their goals before committing resources. Robertson said, “Be very clear about what are you trying to achieve. Are you trying to reduce harm? Be more efficient? Are you trying to make sure you can manage change?”
With limited time and capacity, Robertson argued that organisations must be selective, whilst acknowledging that all three objectives will need to feature over a longer horizon beyond 2026.
On the question of what success looks like, AMP director of small business/personal banking – customer success and enterprise customer protection Michelle Reinisch called for sector-wide transformation. Reinisch said, “For me, I’d like to see a sector that’s really collaborative, data smart, customer-led. I’d also love sort of real-time intelligence sharing. I think success is really about having a total mindset shift across everybody that contributes to this regime.”
Robertson’s vision was equally ambitious but distilled to a single word: “Prevent.” He argued that financial crime controls must move upstream — embedded into product design and onboarding processes rather than applied after the fact — drawing a parallel with Australia’s safety-by-design principles championed by the e-Safety Commissioner.
Dobbin grounded her vision of success in measurable outcomes. Dobbin said, “Success is organisations that have moved from ‘do we have a program?’ to ‘does our program work?’ That means being able to demonstrate that controls prevent or detect issues, that risk-based approaches direct resources to where they matter most, and that the organisation can show outcomes not just processes.”
The message from all three panellists was consistent: the organisations that thrive will be those that treat reform not as a hurdle, but as a genuine gateway to transformation.
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