Despite the recent distractions of a resurgent Russia and a global financial crisis, the threat from al-Qaeda and the US-led ʽwar on terrorismʼ remain important features of the international agenda. This article provides a compact analysis of the origins, leadership, ideology and strategy of al-Qaeda. It describes a ruthless, adaptable and resilient organisation that has survived and possibly grown despite concerted world-wide pressure from the military, intelligence and security agencies. The article highlights some negative features of the ʽwar on terrorʼ which risk increasing support for the very phenomena they seek to tackle. It provides a timely reminder that a policy response to the threat of al-Qaeda is about far more than action by the military and law enforcement. It calls for a global policy response which addresses some of the very real grievances which feed Islamic extremism, and cautions against complacency or loss of momentum at a time when other problems may seem more pressing.