Australia has set up a cyber-intelligence unit to identify terrorism financing, money laundering and financial fraud online, the government said on Tuesday, because of “unprecedented” threats to national security.
The measure expands on a major platform of conservative Prime Minister Malcolm Turnbull, who narrowly won re-election last month after promising to improve Australia’s cybersecurity and transform the economy into a tech-savvy business hub.
Justice Minister Michael Keenan said the new unit, set up under money-tracking agency the Australian Transaction Reports and Analysis Centre (AUSTRAC), would investigate online payment platforms and financial cybercrime to crack down on money-laundering and criminal networks.
Original Source: Reuters
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