Terrorism, Inc.
The Financing of Terrorism, Insurgency, and Irregular Warfare
by Colin P. Clarke
June 2015, 289pp, 6 1/8 x 9 1/4
1 volume, Praeger

Hardcover: 978-1-4408-3103-4
$73, £57, 64€, A100
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eBook Available: 978-1-4408-3104-1
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The Islamic State of Iraq and Syria (ISIS) is the wealthiest terrorist organization in history.

This in-depth, historical analysis of terrorism investigates the major funding streams of terrorists, insurgents, guerrillas, warlords, militias, and criminal organizations throughout the world as well as the efforts of the international community to thwart their efforts.

Terrorist financing is an ongoing game of creating, concealing, and surreptitiously utilizing funds. This intriguing book considers every facet of guerrilla funding—from how activities are financed, to what insurgents do with the revenue they generate, to the range of countermeasures in place for deterring their moneymaking activities. Case studies prompt an analysis of past government responses and inform recommendations for countering irregular warfare worldwide.

Author Colin P. Clarke presents the business side of terrorism, taking a look at the cash-producing ventures he labels “gray activities” such as diaspora support, charities, fraudulent businesses, front companies, and money laundering as well as “dark activities” including kidnapping for ransom, robbery, smuggling, trafficking, and extortion. He considers the transnational efforts to stop terrorist activities—from wiretaps and electronic surveillance to financial sanctions and the freezing of funds and accounts—and points to the emergence of interagency task forces for detaining and destroying the operations of major criminal organizations across the globe.


  • Examines the financing of major terrorist organizations such as ISIS, Al Qaeda, Hamas, Hezbollah, the Taliban, and other significant groups
  • Features maps of key regions and graphs comparing funding streams of various groups
  • Includes information derived from interviews with expert threat finance practitioners, academics, scholars, and policy professionals
  • Provides a chronology of critical events
Colin P. Clarke, PhD, is associate political scientist at RAND, adjunct professor at Carnegie Mellon University, adjunct professor at the University of Pittsburgh, and an affiliated scholar at the Matthew B. Ridgway Center for International Security Studies. His published works include Paths to Victory: Lessons from Modern Insurgencies; From Stalemate to Settlement: Lessons for Afghanistan from Historical Insurgencies that Have Been Resolved Through Negotiations; and Mexico is Not Colombia: Alternative Historical Analogies for Responding to the Challenge of Violent Drug-Trafficking Organizations. He received his doctorate in international security policy from the University of Pittsburgh.


"Colin Clarke’s Terrorism, Inc. is a welcome addition to the field . . . an impressive collection of case studies. . . . As a single-authored, single resource on these case studies, this book will be a useful descriptive overview for many."—Criminal Law and Criminal Justice Books, March 15, 2016

"This is an important account of how terrorist groups fund their operational and organizational capabilities and the counter measures required to disrupt and dismantle their activities and infrastructure."—Perspectives on Terrorism, November 23, 20116

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