Australia sets up cyber intelligence unit in AUSTRAC

Q.  Australia has set up a cyber intelligence unit to identify terrorism financing, money laundering and financial fraud online under an agency. What is it called?
- Published on 10 Aug 16

a. ASTRAC
b. AUSTRAC
c. AISTRAC
d. ATRAC

ANSWER: AUSTRAC
 
Australia has set up a cyber intelligence unit to find out about terror financing, money laundering and financial frauds online due to unprecedented threats to national security
  • Measure expands under the initiative of the Malcolm Turnbull led conservative government which narrowly won re-elections last month
  • New unit set under money tracking agency Australian Transaction Reports and Analysis Centre/AUSTRAC will investigate online payment platforms and financial cybercrime to monitor and track money laundering and criminal networks
  • Use of fraudulent identifies continues to be a key enabler of serious and organised crimes of terrorism
  • New AUSTRAC unit will work with Australian and New Zealand funded ID Care to target job recruitment scams crime syndicates use to recruit people for money trafficking
  • New unit will also work with Australian Cybercrime Online Reporting Network to identify patterns and trends that could indicate scams

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