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More terror cash transfers reported

SUSPECTED terror-related financial transactions jumped 300% in Australia last financial year, with banks helping identify the money's movement.

Financial crime tracking agency Austrac released figures on Thursday that showed 81,074 "suspicious matter" reports were made in 2014-15.

Of those reports, up to 367 were made by banks and financial firms that suspected money was being sent or used to support terrorism-related activity.

Austrac chief Paul Jevtovic told the ABC the increase in terrorist attacks in the past year had raised awareness among bank staff of suspicious activity.

He said people who planned to go overseas to fight or support groups such as IS provided a "financial DNA".

Among those records, he said, could be evidence of the person buying clothing suitable for battle scenarios and transferring money to countries in or near conflict zones.

Topics:  islamic state money terrorism



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