Belgian Banks can now accept "Black Money"

Belgian banks will be able to accept small amounts of funds that have been kept from the taxman.
Until now bank clerks risked a conviction, if they handled illicit earnings - what Belgians generally refer to as "black money" - but a modification of the definition of fencing in Belgian criminal law means they now no longer need to fear a court appearance.

Leo Van Hove, Assistant Professor of Economics at the Vrije Universiteit Brussel, made a monetary study of the underground economy of Belgium as part of his 1997 doctoral thesis.
“Black work” costs every single Belgian EUR 1,500 per year in additional taxes, says Siebens. A family of four pays a staggering EUR 6,000 extra in taxes every year in order to make up the amount of taxes that would have been paid had everyone reported their income. “Only the richest people are profiting from this situation,” he says.