Black money refers to funds earned on the black market, on which income and other taxes have not been paid.
Proceeds,
usually received in cash, from underground economic activity. Black money is earned through illegal activity
and, as such, is not taxed. Recipients of
black money must hide it, spend it only in the underground economy, or attempt
to give it the appearance of legitimacy through illegal money laundering.
Possible sources of black money include drug trafficking, weapons trading,
terrorism, and prostitution, selling counterfeit or stolen goods and selling
pirated versions of copyrighted items such as software and musical recordings.
Black Money is also the name of a television series hosted by Lowell Bergman
that explores the secret world of bribery in international business.
In
the context of Bangladesh, merchant banking includes all financial institutions
that combine the functions of both development banking and investment banking.