Innovative solutions for tackling cybercrime recognised at inaugural ASEAN-Australia Codeathon

The winners of the inaugural ASEAN-Australia Codeathon which sought innovative solutions to combat cybercrime were announced on 16 March.

The Australian Transaction Reports and Analysis Centre (AUSTRAC), Australia’s financial intelligence, anti-money laundering and counter-terrorism financing agency, hosted the 32-hour Codeathon in the lead up to the ASEAN-Australia Special Summit 2018. It brought 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.

The six challenges presented to the participants to solve in 32 hours and the respective team winners were as below:

  1. Using big data to combat terrorism financing - CyberEye
  2. Disrupting money launderers, terrorists and cyber criminals across ASEAN - GoTrack
  3. Exploiting financial data to gain insights into crime and terrorism risks - Project Iceberg
  4. Applying artificial intelligence to improve AML/CTF compliance and suspicious matter reporting - Project Vision
  5. Applying blockchain technologies to improve financial services, AML compliance or secure intelligence sharing – CryptoCollect - A project by The Cyber Six
  6. Collaboration and knowledge sharing to combat cybercrime, money laundering and terrorism – The Longreach Platform

Project Iceberg won the top prize for the most innovative digital solution to combat terrorism financing and cyber security risks.

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.

“To be truly effective in tackling cybercrime and terrorism financing, international collaboration that leverages expertise and new technology across various business sectors is vital.”

The judging panel included Tony Sheehan, the Commonwealth Counter-Terrorism Coordinator; Dr Maria Milosavljevic, Chief Information Security Officer, NSW Government; Dr Alex Johnston, Head of Technology, Thomson Reuters Australia; Alex Scandurra, CEO, Stone and Chalk; Paul Xuereb, Secretary, Blockchain Association of Australia; Leanne Fry, Chief Innovation Officer, AUSTRAC; and Dr John Moss, National Manager Intelligence, AUSTRAC.

AUSTRAC CEO Nicole Rose PSM said the judging panel found that all winners demonstrated genuine innovation and originality.

“It was incredible to see such a diverse group of people from different industries and nations come together to collaborate and partner to address these common challenges in our region,” she said.

Visit site to retreive White Paper:
FB Twitter LinkedIn YouTube