Explain the concept of black money
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Black money includes all funds earned through illegal activity and otherwise legal income that is not recorded for tax purposes. ... Recipients of black money must hide it, spend it only in the underground economy, or attempt to give it the appearance of legitimacy through money laundering.
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Black money includes all funds earned through illegal activity and otherwise legal income that is not recorded for tax purposes. ... Recipients of black money must hide it, spend it only in the underground economy, or attempt to give it the appearance of legitimacy through money laundering.
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