Gray Money

Gray Money

Money one derives from tax evasion. For example, gray money includes illicit deductions or funds hidden in an offshore bank. Gray money is similar to, but distinct from, black money, which is the revenue from a criminal enterprise, such as drug dealing.
References in periodicals archive ?
The report defines gray money as expenditures by entities that do disclose their contributors - but who also list dark money organizations as donors, making it difficult or impossible to locate the original source of the money.
The post Gray Money appeared first on Executive Magazine.
One supporter wrote: "New deals for Gary and his staff as well as the Gray money being reinvested.
What's worse, Turkey has virtually turned into a haven of black and gray money.
Black and gray money poured into the stock exchanges, joint ventures, cooperatives, banks, and joint stock companies that were otherwise celebrated abroad as harbingers of economic reform.
At a time when Iran was under international sanctions, they made Turkey a country that laundered Iran's energy money worth tens of millions of euros, which, in the best definition, could be considered semi-legal or gray money in the context of the international financial system.