MOSCOW, May 29. /TASS/. Rapid digitalization leads to the emergence of sophisticated forms of financing terrorism, including through cryptocurrencies, Russian Prime Minister Mikhail Mishustin said.

He spoke at the 42nd plenary session of the Eurasian Group on Combating Money Laundering and Financing of Terrorism, held in Moscow.

"Today, integration in the Eurasian space is strengthening, which supports multifaceted development and progressive economic growth of the region's countries. The introduction of high technologies enables automation of many processes and reduces costs," Mishustin said.

"However, amid rapid digitalization, new challenges emerge related to sophisticated forms of financing terrorism, including the use of crypto assets for illegal purposes," the Prime Minister said, quoted by the government press service.

Clear coordination of actions by agencies responsible for financial security directly influences the success of the fight against money laundering, Mishustin noted.

Over 20 years, the Eurasian Group has built an effective model of interstate partnership allowing transparency of financial flows, timely risk identification, and prompt response. This plenary session, chaired by Russia, is a significant event. Group members must continue developing legal frameworks and exchanging new technologies and best practices.

"I am confident this meeting will be another step in strengthening cooperation between our states in this important area. The experts' recommendations will find practical application," the Prime Minister concluded.

The Eurasian Group on Combating Money Laundering and Financing of Terrorism was established in 2004 by Russia, Belarus, Kazakhstan, China, Kyrgyzstan, and Tajikistan. Later, Turkmenistan, Uzbekistan, and India joined. The Group is an associate member of the Financial Action Task Force (FATF).