black money
Untaxed secret cash
Black money is income or wealth that has been hidden from tax authorities or earned through illegal means.
The term appears primarily in South Asian English, especially in discussions of India's economy, where it refers to unreported cash holdings and undeclared assets: The government's demonetization aimed to flush out black money.
The concept contrasts with legitimate, taxed income sometimes called white money.
Corrupt payment for influence
- kickbacksIllegal return payments
- graftIllicit political gain
- embezzlementFraudulent taking of entrusted assets
- extortionObtaining through threats
under-the-table · payoffs · slush fund · patronage · cronyism · nepotism · malfeasance · misappropriation
Putting somewhere specific
- layeringForming successive strata
- integrationCombining into a whole
- smurfingEvasive transaction splitting
- structuringImposing systematic order
front businesses · round-tripping · real estate · casinos · art market · gemstones · gold · cryptocurrency
Money not disclosed officially
- offshore accountsBank deposits in other countries
- shell companiesLegally registered but inactive businesses
- tax havensLow-levy jurisdictions for assets
- bank secrecyProtected account holder information
secret stash · numbered accounts · cooked books · falsified records
Unreported commercial activity
- shadow economyUnrecorded commercial activity
- cash economyCommerce using physical currency
- capital flightRapid outflow of investments
- fiscal deficitSpending exceeds revenue
bribery
Corrupt payment for influence
- kickbacksIllegal return payments
- graftIllicit political gain
- embezzlementFraudulent taking of entrusted assets
extortion · under-the-table · payoffs · slush fund · patronage · cronyism · nepotism · malfeasance · misappropriation · venality
placement
Putting somewhere specific
- layeringForming successive strata
- integrationCombining into a whole
- smurfingEvasive transaction splitting
structuring · front businesses · round-tripping · real estate · casinos · art market · gemstones · gold · cryptocurrency
unreported income
Money not disclosed officially
- offshore accountsBank deposits in other countries
- shell companiesLegally registered but inactive businesses
- tax havensLow-levy jurisdictions for assets
bank secrecy · secret stash · numbered accounts · cooked books · falsified records
underground economy
Unreported commercial activity
- shadow economyUnrecorded commercial activity
- cash economyCommerce using physical currency
- capital flightRapid outflow of investments
- corruptioncorruption, graft, kickbacks, bribery, bribes
- dirty moneyill-gotten gains, illicit funds, illicit gains, proceeds of crime, filthy lucre
- South Asian economiesGDP, GDP growth, fiscal deficit, budget deficit, economic reforms
- Demonetizationold notes, cash shortage, liquidity crisis, withdrawal limits, currency exchange
- LaunderingAML, placement, concealment, smurfing, structuring
- offshore financetax havens, tax haven, offshore banking, private banking, private banks