AUSTRAC plans counterterrorism codeathon

By Dylan Bushell-Embling
Thursday, 18 January, 2018

AUSTRAC plans counterterrorism codeathon

The Australian Transaction Reports and Analysis Centre (AUSTRAC) plans to hold a codeathon in March to help solve challenges associated with countering terrorism financing.

The ASEAN-Australia Codeathon is expected to bring together more than 80 experts including counterterrorism financing experts, software developers, programmers, analysts, designers and engineers.

Participants at the Sydney event will be given 32 hours to develop solutions to challenges that will be unveiled on the first day of the event. Up to six members will be permitted per team.

AUSTRAC is inviting participation from ASEAN and Australian FinTech, RegTech and start-up companies, financial institutions and financial intelligence units.

The codeathon begins on 14 March. Prizes will be awarded in several categories on the close of the second day.

“Countering terrorism financing is a challenge that crosses regional borders, technical expertise and business sectors. A collaborative approach to national security innovation is required to disrupt and dismantle all means of terrorism financing in our region,” AUSTRAC CEO Nicole Rose said.

“We saw great success with the first Codeathon event of this kind held in Kuala Lumpur in November 2017, and are looking forward to seeing similar outcomes from Sydney.”

During the Malaysian event, the winning team developed a program providing cryptocurrency users and platforms with an AI-powered service designed to red-flag blockchain addresses involved in or linked to suspicious activity.

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