Bank Negara Malaysia (BNM) and Australia’s financial intelligence agency AUSTRAC, are pleased to announce the winners of the inaugural International Financial Intelligence Unit (FIU) Codeathon 2017.
The Codeathon, held on 18 and 19 November in conjunction with the 3rd Counter-Terrorism Financing Summit 2017, brought together 69 participants from 11 different countries. Participants ranging from FIUs, financial technology (FinTech) and regulatory technology (RegTech) communities, financial institutions and private individuals (software developers, programmers, analysts, designers, engineers, students, or hobbyists), worked to solve the following challenges:
- Where is the money? How would you monitor the changing world of value exchange internationally, taking into account emerging technologies and the shift from money to value in myriad forms?
- Who are you? How would you identify people engaging in terrorist funding, money laundering, drugs or other criminal activities with cryptocurrencies or other pseudonymous channels?
- Help your community! How would you identify tangible impending risks to the community to intercept harm pre-emptively, especially relating to money laundering/terrorism financing (ML/TF)?
Participants selected at least one of the challenges and created solutions to address terrorism financing issues effectively, as well as products that signify originality and ease of use.