The European Commissioner for Home Affairs Ylva Johansson has issued a stark warning about the growing threat of far-right extremism in Europe.

During the inaugural "Counterterrorism Financing Forum" held in Brussels on Monday, Johansson stressed the need for international cooperation in the fight against terror financing.

She emphasized that far-right extremism is on the rise in Europe, posing an increasingly serious terrorism threat.

"Far-right terrorism is a growing threat in Europe," Johansson said.

She went on to highlight the audacious activities of far-right violent extremists, who have begun to operate more openly, including organizing rock concerts and marketing commercial products to fund their extremist agendas.

One of the major challenges in combating this rising threat, Johansson said, is the blurred line between far-right extremism and terrorism.

The use of cryptocurrencies and the establishment of fake charitable organizations have further complicated efforts to distinguish between the two, she added.

Germany and France are among major EU countries grappling with growing far-right extremism.

Earlier this year, Germany's Interior Minister Nancy Faeser said they consider far-right extremism to be the biggest threat to democracy in the country.

"Right-wing extremism remains a continuing challenge as it is the greatest extremist threat to the basic democratic order," Faeser said as she presented an annual report on extremism in Germany to reporters in Berlin.