Malcolm Turnbull intends to rally world leaders to turn the tap off for money laundering schemes flowing to North Korea's weapons program and Islamic State militants.
The prime minister touched down in Manila, the Philippines capital, on Sunday afternoon for the East Asia Summit, which coincides with the larger Association of Southeast Asian Nations meeting, to be greeted by a ceremonial dance party welcome on the tarmac.
The region's premier strategic forum is convened at a time of great global insecurity and uncertainty, Mr Turnbull said.
"I will urge world leaders to implement meaningful, practical measures to bring North Korea to its senses and prevent the spread of terrorism," he said.
Stamping out illegal financing underpinning Pyongyang's weapons program and IS militants is crucial.
"We must tighten the net," Mr Turnbull said.
"If we cut their funding we cut their capacity to hurt and harm."
Later, Mr Turnbull attended a gala leaders dinner in the evening before some one-on-one time with host President Rodrigo Duterte.
The two leaders discussed the ongoing fight against terrorism and the threat posed by foreign fighters returning from Syria and Iraq.
The Philippines has been quashing an Islamic State insurgency in Marawi in the south since May and Australia provided surveillance aircraft and is offering troop training.
They vowed to increase intelligence sharing.
In his opening remarks Mr Duterte expressed concerns about the military build up on artificial islands in the South China Sea.
The two leaders agreed countries should avoid taking unilateral actions that could lead to conflict.
The Philippines, China, Vietnam, Taiwan, Malaysia and Brunei all have competing claims for maritime territory.
Mr Duterte and Mr Turnbull also discussed the "war on drugs" in the Philippines.
There's been an estimated 12,000 extra-judicial deaths since July 2016.
Meanwhile, Australian diplomats met with counterparts from the US, India and Japan on Sunday to discuss the prospects of reviving a four country security forum, which is widely seen as an effort to counter China's growing influence.
Former prime minister Kevin Rudd pulled Australia out of the arrangement in 2008.
On Monday Mr Turnbull is expected to have bilateral talks with US President Donald Trump and Japanese Prime Minister Shinzo Abe on the sidelines of the summit.
