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.