Entity Types

Black Market

Black Market

Market

The Black Market is a transaction platform, whether physical or virtual, where goods or services are exchanged illegally. Black market transactions usually occur “under the table” to let participants avoid government price controls or taxes. As these exchanges are often prohibited by governments, this platform involves cash transactions or digital currencies like bitcoin, making it harder for authorities to track. It usually involves the breaking of certain laws such as filing proper tax returns, with production and distribution is prohibited by law, non-compliance with the rule constitutes a black market trade since the transaction itself is illegal.