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Australia will track online money laundering and cyber fraud

Engadget logo Engadget 9/08/2016 Timothy J. Seppala

Australia outlined its cyber security strategy earlier this year and now we have a better idea of what it entails. In an effort to figure out where funding for cyberterrorism comes from, the country has launched a program to keep track of money laundering and online financial fraud, according to Reuters. The key directive, at least at this point, is to intercept job listings that trick people into illegally moving money between one jurisdiction and the next.

Reuters also reports that the outfit hopes to "identify patterns and trends that could indicate large-scale financial scams or their methodology." That bit will operate under the Australian Cybercrime Online Reporting Network, while the new division as a whole is a part of the Australian Transaction Reports and Analysis Centre. Sadly, this cybersecurity report contains zero Lord of the Rings references, despite the new task forces covering New Zealand in addition to Australia.


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