One of the most effective methods of fighting terrorism is to cut off the sources of its financing. That is why issues related to this problem are of special interest to people and institutions engaged in fighting terrorism as well as scholars. Regrettably, scientific investigations on the ways of financing terrorism and business connections between particular groups face serious difficulties due to a lack of reliable and verifiable data. We are largely left to conjectures and therefore it is only possible to present some trends and hypotheses. The article discusses ways of obtaining funds by terrorist groups from mid-19th century until today. It also shows the development of terrorism from amateur operations on a relatively small scale by Russian revolutionists and western anarchists, through 'substitute war' from the cold war period up to a union of politics, religion and purely criminal activities that we witness today. In consequence, ideologically committed enthusiasts guided by their own peculiar ethics have been gradually replaced by ruthless cynics who are ready to break any taboo.
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