Terrorist groups and their supporters are using crowdfunding platforms, cryptocurrency exchanges and other financial technology-based companies, or fintechs, to raise and transfer cash, the EU's primary law enforcement agency claimed Wednesday. After the COVID-19 pandemic drastically curtailed in-person commerce and disrupted mainstream financial channels in 2021, "online financial services and virtual assets have become more prominent in terrorist financing, especially in the jihadist terrorist and right-wing extremist scene," Europol warned in a 96-page report. Europol's latest findings contrast with last year's iteration of the report, which acknowledged the potential for terrorist groups to exploit fintechs while cautioning that actual, verified...
The European Union Agency for Law Enforcement Cooperation published its Terrorism Situation and Trend Report 2022, which includes information on both legal and illegal sources of funds relied on by terrorists.