Winners of International FIU Codeathon 2017Ref No : 11/17/09 20 Nov 2017 Embargo : For immediate release
Bank Negara Malaysia 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 - 19 November in conjunction with the 3rd Counter-Terrorism Financing Summit 2017, brought together 69 participants from 11 different countries. Participants ranging from Financial Intelligence Units (FIUs), Financial Technology (FinTech) and Regulatory Technology (RegTech) communities, financial institutions as well as 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 crypto currencies 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.
Through this diverse participation, the Codeathon promoted collaboration between different sectors in addressing the above challenges. Their innovative solutions were presented in various forms, including live applications, websites or prototypes.
After a grueling 32 hours of coding, the participants submitted their solutions with a short video explaining the use and relevance of the product to address the respective challenge.
The winners for the Codeathon are:
- Champion - RM 15,800 ($5,000 AUD) : Overwatch - Blockchain Address Validation
- 1st runner-up - RM 9,500 ($3,000 AUD) : SocialHash
- 2nd runner-up - RM3,200 ($1,000 AUD) : LinkAI - The Network Miner
- Best Performed Team - RM 1,600 ($500 AUD) and trophy: Dodge Index
- “Spirit of CTF Codeathon” Winner - RM 950 ($300 AUD) and trophy: Elliot Ian Shepherd
- “Spirit of CTF Codeathon” Runner-Up - Trophy: Yudhitia Mustika Sari
The judges found that the champion, Overwatch - Blockchain Address Validation created a program that showed genuine innovation, originality and most effectively addressed the “Help Your Community” Challenge by providing cryptocurrency users and platforms an artificial intelligence (AI)-enabled service to red-flag Blockchain addresses which have been directly involved in or linked to suspicious activity. The first runner-up, Social Hash deserves special mention and recognition for their solution that focused on smart contracts allowing cross-border tracking of data from social networks and investigations.
BNM and AUSTRAC congratulate all participants for their enthusiasm and collaborative efforts at this year’s Codeathon.
Participants are invited to register for next year’s ASEAN-Australia Codeathon, hosted by AUSTRAC in Sydney from 14 - 15 March 2018 in the week prior to the ASEAN-Australia Special Summit and Counter-Terrorism Conference. Registration is now open via the AUSTRAC website (http://www.austrac.gov.au/about-us/international-engagement/asean-australia-codeathon).
Participants in action at the International FIU Codeathon 2017
The team, "Dodge Index" won the Best Performed Team prize
Bank Negara Malaysia
Australian Transaction Reports and Analysis Centre (AUSTRAC)
20 November 2017
© Bank Negara Malaysia, 2017. All rights reserved.