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Black money is the proceeds of an illegal transaction, on which income and other taxes have not been paid. Black money is often associated with money laundering, a process used to conceal the illegitimate source of the money. Because of the clandestine nature of the black economy, it is not possible to determine its size and scope.
Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, underground sex work, terrorism, corruption, embezzlement, and treason, and converting the funds into a seemingly legitimate source, usually through a front organization.
A California lawmaker is leading the charge to make undocumented residents eligible for a popular state-backed home loan program, weeks before it gives out another $250 million in down payment ...
They sold Courthouse Place in 2020 for $4.4 million more than they had paid for it in 2017. All together, they sold the four properties for nearly $15 million more combined than they had paid for ...
Taxation of illegal income in the United States arises from the provisions of the Internal Revenue Code, enacted by the U.S. Congress in part for the purpose of taxing net income. [1] As such, a person's taxable income will generally be subject to the same federal income tax rules, regardless of whether the income was obtained legally or illegally.
According to data from Zillow, the average home price in California is currently $771,057, an increase of 3.7% annually. Based on the most recent information from Redfin, there are currently ...
Drugs, weapons and human trafficking. That's probably what comes to mind when thinking about the black market -- but the illegal trade is more varied than you may think, and it also encompasses ...
Possession of stolen goods is a crime in which an individual has bought, been given, or acquired stolen goods.. In many jurisdictions, if an individual has accepted possession of goods (or property) and knew they were stolen, then the individual may be charged with a crime, depending on the value of the stolen goods, and the goods are returned to the original owner.