By SAŠA ĐORĐEVIĆ

Over the past decade, thousands of euros in profit (both legal and illegal) have flowed into and been generated within the Western Balkans to fund violent extremism. While violent religious and far-right extremism share similarities, their financing methods differ in complexity. Cash remains the primary means of moving funds on both sides, aided by the region’s informal economy. Religious extremist groups tend to rely on simpler financial methods and are less dependent on illicit profits. In contrast, violent far-right groups use a mix of legal and illegal funding sources, employing more sophisticated financial strategies. This policy brief examines the financial foundations of violent extremism in the Western Balkans with the aim of strengthening institutional efforts to combat it.

Geneva, SWIT: Global Initiative Against Transnational Organized Crime , 2025. 32p.