The inaugural ASEAN-Australia Codeathon, hosted by AUSTRAC in Sydney from 14-16 March 2018, will see 80 participants undertake 32 hours of coding to solve challenges in teams of up to six.
"Their innovative solutions may be presented in various forms, including live applications, websites or prototypes which may serve as precursors to innovative digital solutions to fight terrorism financing," said AUSTRAC.
AUSTRAC chief executive Nicole Rose said the agency is encouraging ASEAN and Australia's growing fintech, regtech and start-up communities to participate in countering terrorism financing.
"A collaborative approach to national security innovation is required to disrupt and dismantle all means of terrorism financing in our region," Ms Rose said.
"We saw great success with the first Codeathon event of this kind held in Kuala Lumpur in November 2017, and are looking forward to seeing similar outcomes from Sydney."
The 2017 event created a program that provided cryptocurrency users and platforms with an AI services that red-flags blockchain addresses that are linked to suspicious activities.
"The 2018 ASEAN-Australia Codeathon will further enhance these concepts and is one of the most innovative initiatives led by AUSTRAC," said a statement by the government agency.
"It will bring like-minded individuals from different parts of the region together to collaborate and protect our community from the threats of serious crime and terrorism in our region."