Black Money

A scam in which the scammer attempts to convince a victim that black construction paper (or similar material) is in fact dyed money. Such scammers send e-mails stating that they have a large amount of money that has been dyed black to avoid customs. The scammer then asks the victim to pay for the chemicals to take off the dye in exchange for a percentage of the money. An alternate version of the scam involves actually showing the dyed "money" to a potential victim. It originated around 2000.

Mentioned in ?

Gray Money

References in periodicals archive ?

The Swiss Banking Association said that India, which took fourth place for outflow, holds more black money than the rest of the world combined.

Report reveals top nations harbouring black money

INDIA ranked fourth in the world in generating black money with a staggering $ 51 billion flowing out of the country every year between 2004- 2013, according to the annual report released by Global Financial Integrity ( GFI) on Wednesday.

Black money outflow beats defence budget

Mohan Ramaswamy, Managing Director, LexisNexis India said, “Publishing this book on Black Money - a topic of national significance is a part of our continuous endeavor to improve transparency and advance the rule of law through our works and solutions that make professionals become more efficient, drive debates and discussions and fuel intelligent thoughts and action.

Lexisnexis India Launches New Book on Black Money - "It's Raining Black!"

With a view to curb the generation of black money in real estate, the Budget proposes to amend the provisions of Section 269SS and 269T of the Income-tax Act so as to prohibit acceptance or re-payment of advance in cash of Rs 20,000 or more for any transaction in immovable property.

Steps In The Right Direction

28, the Modi government got a severe tongue lashing from the Supreme Court, which reprimanded it for seeking modification of its order on black money on disclosing names of alleged account holders in foreign banks.

Modi govt ties itself in knots

Modi must respond to Sonia since BJP had made a big issue out of the black money issue in the last general elections and had promised to get it back.

BJP wants Modi to answer Sonia's black money question

The Special Investigation Team on black money, constituted by the Narendra Modi government on May 27 in compliance with a Supreme Court directive, is studying the report.

Black economy now amounts to 75% of Indian GDP

Anjan told ANI, "Baba Ramdev and Prime Minister Narendra Modi promised during the election campaign that as soon as the party wins the election black money will be brought back.

BJP refusing to fulfill their promise on black money issue: Atul Anjan

Pakistan can pay off all its debts in no time if succeeds to recover all this black money.

$200 billion of Pakistan in Swiss banks

The sting operation by Cobrapost found out that many private sector banks floated the rule and turned black money to white, accepting cash amounting to lakhs.

Money Laundering: RBI Governor Admits the Need for Corrective Action

Is it not one more act of mega-corruption that this most corrupt political government of our history is trying to inflict upon the country a scheme that can only give black money accumulated during this period to get into the system as white?

JI criticises proposed tax amnesty scheme

Summary: The indian government's white paper on black money is a huge disappointment.