Russia’s security services insist that digital assets are actively used for terrorism financing despite the lack of evidence to support this claim.

International terrorist groups are skilled at using modern technology, recruit hackers into their ranks and actively finance their activities with cryptocurrencies, the head of Russia’s Federal Security Service (FSB) has said.

“This is not only about aggressive propaganda and recruitment on the Internet, where over 10,000 websites and hundreds of thousands social media accounts exist for this purpose. I am speaking about the massive use of encrypted internet communication tools, electronic banking, cryptocurrencies, and schemes for remote terrorist activity management and its financing,” Bortnikov stated in his opening remarks at the Moscow Conference on International Security.

The Head of the FSB added that 25 terrorist attacks coordinated via various messengers were prevented in Russia last year.

It is not the first time that the Russian security chief speaks about the possible negative consequences of the use of modern data technology by terrorists and other extremists.
In January 2017, the Indonesian Anti-Money Laundering and Terrorist Financing Agency (AML / CTF) provided the first public evidence of a government of terrorism using cryptocurrencies.

According to Indonesian government sources, Bahrun Naim, a member of Daesh (also known as the Islamic State of Iraq and Syria, or ISIS), sent Bitcoin to fellow members across Indonesia to avoid transferring money through the formal financial system.


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