Black Market

A black market or underground economy is the market in which goods or services are traded illegally. The key distinction of a black market trade is that the transaction itself is illegal. The goods or services may or may not themselves be illegal to own, or to trade through other, legal channels. Because the transactions are illegal, the market itself is forced to operate outside the formal economy, supported by the established state power. Common motives for operating in black markets are to trade contraband, avoid taxes, or skirt price controls.
Posts about Black Market
  • Swiss Convict Tax Whistleblower in Absentia

    … government. Unlike typical hacker who sell stolen account information to fraudsters on the black market, Falciani’s buyer was the government. In recent years there has been a huge push to combat tax evasion using foreign bank accounts. The United States leads that push and regularly prosecutes U.S. taxpayers with unreported offshore accounts. Having…

    Due Diligence- 17 readers -
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