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particularly since 9/11, the 'fight' against terrorism, and terrorism financing more specifically has become a method of global governance, in which the most mundane everyday activities, like financial transactions are scrutinized and governed in new ways. However, little work has gone into analyzing this new transnational field. This paper is interested in the following questions: How did finance become a central element in the global fight against terrorism? And which controversies characterized and structured the transnational political processes and outcomes of current counter-terrorism financing (CTF) policies? Inspired by Foucault’s concept of genealogy, the object of this paper is to make the evolving representation of terrorism financing visible by providing a critical historical perspective of this emerging field.