Canberra, Manila ink intel deal

Canberra, Manila ink intel deal

AUSTRALIA: Australia and the Philippines agreed on Tuesday to swap financial intelligence in a bid to fight money laundering and financing for militant groups.

Australian Justice Minister Chris Ellison said the agreement came after the Philippines passed new laws to crack down on money laundering and financing of terror groups.

"The signing of the memorandum of understanding will now enable the formal exchange of vital financial intelligence between Australia and the Philippines, strengthening the war on money laundering and terrorism financing in this region," Ellison said in a statement.

Australia has been strengthening security intelligence in Southeast Asia since the Sept. 11, 2001, attacks on the United States, and has signed security cooperation agreements with 11 nations. The Philippines is the 42nd country to sign an agreement with Australia on the exchange of financial intelligence. -- Reuters