Weakening encrypted systems to prevent crime is akin to solving one problem by creating a thousand more.
Black money is known as illicit financial flows (IFFs) internationally, which are defined as a cross-border movement of funds that have been illegally or unethically earned, transferred or utilised
The budget speech however, did not draw attention to a number of initiatives taken by the government in the past few months to curb the menace of tax avoidance
With developing countries losing over $1 trillion to illicit financial flows a year, and $7.6 trillion of the world’s assets being held in offshore secrecy jurisdictions, it becomes crucial to close legal loopholes that allow anonymous companies to exist
The people benefitting from the global economy are those at the top, simply because our economic system is heavily skewed in their favour