Bali: Australia will strengthen the regulation of stored value cards as part of its crackdown on terrorism funding following revelations jihadists used prepaid money cards in the 2015 Paris attacks.

Justice Minister Michael Keenan told a counter-terrorism financing summit in Bali on Wednesday that this was one of the reforms recommended by a review of Australia's anti-money laundering and counter-terrorism financing legislation.

The terrorists responsible for the Paris attacks, which killed 130 civilians, used prepaid money cards with small amounts on them to fund the carnage.

French Finance Minister Michel Sapin reportedly said at the time that this method made it hard to track their spending.