Australian Islamic militants using travel gift cards to fund terrorism

Australian Islamic militants are using travel and retail gift cards to fund terrorism in the war torn Middle East.

Reports suggest travel gift cards can be loaded with up to $100,000 in Australia at a time, and are being spent in countries which border Syria.

Federal intelligence agency AUSTRAC released a report on the issue today.

The Herald Sun revealed AUSTRAC has recently identified 12 cases of gift cards allegedly being used to fund terrorism, with transactions of up to $170,000 being made in the likes of Turkey, Lebanon and Jordan.

The intelligence agency then cited another 66 suspicious money transfers in nations that are recognised as transit areas for terrorism.