The article observes that the transformation of terrorist groups into transnational criminal organizations (TCO) has important implications for policymakers, as some traditional, politically motivated terrorist groups further profit-minded agencies under a political banner. The article claims that there are different degrees of transformation; some terrorists commit criminal acts to support political operations, while others view profit-driven criminal acts as their end game. The article argues that TCO's and terrorist groups will not cooperate with each other to advance aims and interests, instead using their "in-house" capabilities to undertake criminal or political acts. If cooperation does occur, it will most likely be short-term linkages of convenience, and even those will be limited and spotty. The article concludes that there are dangerous potentialities when guerrillas generate money through drug trafficking, and that issue should be addressed accordingly. But alarming prognostications about a "grand shift" where terrorists and criminals operate together will likely prove unfounded. Notes