Apr.17, 2010, 08:49am

The federal government's cracking down on money laundering and terrorism financing with new laws that would de-register organisations involved in dodgy money transfer services.

The new rules will allow Australia's anti-money laundering and counter-terrorism financing regulator to remove a person's name and details from the register of financial providers.

Money transfer service providers must be registered to operate legally.

Home Affairs Minister Brendan O'Connor says the new powers for the Australian Transaction Reports and Analysis Centre aim to prevent serious crimes and will not affect the majority of providers.