A team from Terem took out the top prize in the Australian Government’s inaugural ASEAN-Australia AUSTRAC Codeathon. Terem created a tool to follow potentially related transactions as people travel around, helping to identify possible money laundering and other financial crimes.
The Codeathon was a 32-hour event that bought together more than 100 technology specialists and innovators from 10 nations, including industry leaders and government partners, to address the problems of terrorism financing, money laundering and cyber threats.
Minister for Law Enforcement and Cyber Security Angus Taylor said the Codeathon drives innovation in national security, harnessing the knowledge and capability of industry and government.
“Terrorism financing is an evolving challenge, so fighting it requires innovative and sophisticated solutions that advance faster than the criminals do,” Mr Taylor said.