If Australia is going to be able to successfully track the "virtually indistinct" financial transactions of lone wolf terrorists, the region must work together, Justice Minister Michael Keenan says.

More than 100 people are being monitored by Australia's financial intelligence agency - AUSTRAC - as authorities continue to grapple with a problem that will be around for decades.

In an address to a summit in Bali on counter-terrorism, Mr Keenan is expected to tell the meet that while operationally there have been some successes in combating Islamic State, there has also been an increase in frequency and severity of terrorist attacks.

"More significantly, we have observed individuals who are not known to authorities become quickly radicalised and carrying out a violent attack," Mr Keenan will say.

The meet is the first time since the recent terrorist attacks in France, Germany and the United States, that counter-terrorism ministers from more than 20 nations will convene to discuss the global threat.

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A regional risk assessment will identify key areas where improvement in intelligence is needed - such as in tracking self-funding by small scale groups or lone actors and the misuse of at-risk non-profit organisations.

Almost 600 Indonesians are currently engaged in the Syria-Iraq conflict and more than 70 Malaysian citizens have joined or attempted to join groups - the majority of which are associated with IS.

"ISIL wants to expand its presence in Southeast Asia, and will look to territory in the region where it believes this may be achievable.

"We face a common enemy that has infected our region," Mr Keenan will outline in his speech.

"AUSTRAC is actively monitoring more than 100 people of interest and keeps partner agencies informed about their financial activities."

Mr Keenan will say the rise of lone actors and terrorist cells "present different yet still complex problems".

"There are relatively low costs involved with lone actor and small cell attacks ... Their financial activity may resemble legitimate financial transactions or worse, remain virtually indistinct when self-funded," Mr Keenan is expected to say.

"That means our ability to share information with our partners is critical and an enduring challenge for any government."