black money

American  

noun

1. income earned surreptitiously or illegally, usually in cash, and not reported to the government so as to avoid paying taxes on it.

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black money British  

noun

1. that part of a nation's income that relates to its black economy

2. any money that a person or organization acquires illegally, as by a means that involves tax evasion

3. money to fund a government project that is concealed in the cost of some other project

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Etymology

Origin of black money

First recorded in 1965–70

Example Sentences

A few have also noted that while the 2016 campaign helped the government claw back nearly all of the withdrawn bills, it did not eliminate unaccounted-for cash, known as black money, from the economy.

From New York Times • May 31, 2023

Past efforts to attract black money into the light—using tax amnesties, for example—have had little effect.

From Economist • Dec. 1, 2016

It’s an open secret that much of this is fueled by black money, and it infuriates many Indians.

From Slate • Nov. 28, 2016

Also controversial is a plan to tackle black money stored abroad to evade tax with legislation that will include 10 years’ imprisonment for those found guilty.

From Newsweek • Mar. 2, 2015

The combination of black money, shoddy financial controls, shady bank accounts and shredded documents renders a true account of the cash flows and damages in such cases all but impossible.

From Crime and Corruption by Vaknin, Samuel