Griffith pairs with bank on financial crime academy
Griffith University and the Commonwealth Bank are teaming up to develop an academy to train financial sleuths and set a new standard in the training of financial crime specialists.
Griffithās Professor Andreas Chai said financial crime proceeds were about $3 trillion globally, which accounted for about 2 per cent of GDP. Only a fraction of this was ever reclaimed.
āThis collaboration is part of a global effort to address financial crime. We aim to contribute to national solutions to safeguard the integrity of the global financial system and of Australiaās national security,ā Chai said.
The academy would offer financial crime investigation and compliance programs.
Financial crime has been in the spotlight recently over allegations relating to money laundering within Australiaās casinos.
Griffith also believes that combatting financial crime was a growing specialisation which had been hit by the labour shortage.
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āThe academy has been established to help address this shortage, creating pathways for students and people wishing to reskill to move into financial crime prevention as well as existing professional who would like to build on their expertise,ā the university said.
The CBA already has expertise in the area and this would be added to Griffithās business and accounting structures as well as criminology and security technologies.
CBA would use the academy to create professional development pathways for its workforce.
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