Nov 10

Indians google money laundering after Modi declares war on cash:

The search query “how to convert black money into white money?” is trending on Indian Google after Prime Minister Narendra Modi withdrew 500 and 1,000 (about $15) rupee notes, turning 86 percent of cash in the country to paper.

According to Bloomberg, the most searches came from Modi’s home state of Gujarat, known for its small traders, jewelers and other small businesses.

The government decided to get rid of the notes because of tax evasion and corruption in India. The term ‘black money’ is used to describe cash stashed to avoid paying taxes.

H/t reader quodgy:


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