Australia, SE Asia to choke terror financing

KUALA LUMPUR: Australia and Southeast Asia have joined justice minister said Wednesday, amid recent concerns about the Islamic State (IS) group gaining a foothold in the region.IS militants seized the southern Philippine analysts say was part of the group’s plan to establish a base in the region.

The new alliance aims to disrupt the funding of militant groups - ligence sharing, Australian Justice Minister Michael Keenan said on Wednesday in Kuala Lumpur, where he is attending a counterterrorism conference.

“The stability and security of Southeast Asia is of critical importance to Australia,” said Keenan, who also assists Australian Prime Minister Malcom Turnbull on counter-terrorism issues.

Canberra “is committed to defeating the threat posed by terror- ist groups, including ISIL, in the region,” he added, referring to IS by another name.

Dozens of Australians were killed in a militant attack on the Indonesian resort island of Bali in 2002, one of the worst such attacks in the region.

Keenan said under the new initiative – endorsed by representatives from across the region – participating states will “directly target and disrupt the funding lifeline of terrorist groups” by denying them access and other sources of funding.

agency AUSTRAC and the Philippines’ Anti- Money Laundering Council will lead the group.