How does the government control black money?

Asked 23-Oct-2023
Updated 26-Oct-2023
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Governments around the world employ various strategies and measures to address this issue. Here are some common methods and policies used to control black money:

1. Stringent Taxation and Reporting Laws

2. Anti-Money Laundering (AML) Laws

3. Whistleblower Programs

4. Scrutiny of High-Value Transactions

5. International Cooperation

6. Data Analytics and Technology

7. Asset Disclosure and Amnesty Schemes

8. Strengthening Law Enforcement and Judicial Capacity

9. Public Awareness and Education

10. Cashless Transactions

11. Property and Asset Registers

12. Income and Wealth Discrepancy Analysis

Controlling black money is an ongoing effort, and governments continually adapt their strategies to address new challenges and developments.