Investopedia

Continue to Site »

Blacklist

Filed Under » ,
Dictionary Says

Definition of 'Blacklist'

A list of persons, organizations or nations suspected or convicted of fraudulent, illegal or criminal activity, and therefore excluded from a service or penalized in some other manner. A blacklist may be maintained by any entity, ranging from a small business enterprise to an inter-governmental body. Depending on the scope of the blacklist, it may either be secret or public.

A common misconception held by many people relates to the purported existence of a "credit blacklist" to deny credit facilities to consumers with poor or spotty credit histories. Since a credit blacklist as such does not exist, the reality is that creditors and lending agencies rely on the consumer's credit history rather than a blacklist to guide their loan decisions.
Investopedia Says

Investopedia explains 'Blacklist'

The negative effects of being blacklisted can be quite considerable, with huge inconvenience being the least of them; the more severe effects include loss of credibility and goodwill, a decline in business and clients, and financial hardship.

An example of a secret blacklist includes the "No-Fly List" maintained by the U.S. Department of Homeland Security, which lists people who are not permitted to board a commercial flight to travel into or out of the United States. An example of a public blacklist is the list of non-cooperative countries maintained by the Financial Action Task Force (FATF), which lists countries that the FATF considers to be uncooperative in the global effort against money laundering and terrorist financing.

If you have been denied credit because of a poor credit history, you should attempt to repair it as soon as possible. Some of the measures suggested by experts to repair credit history include reviewing your credit record for errors and inaccurate information and making existing debt repayments on time.

Articles Of Interest

  1.

    What's On A Consumer Credit Report?

    A look at the various components and considerations that go into one's credit report and credit score.

  2. Spotting A Forex Scam

    Forex scams are more common than you think. We tell you how to spot them.

  3. Why Bad Credit Is Bad For Financial Careers

    In order to obtain and maintain a career in the financial industry, it is also important to have a clean credit report.

  4. How To Establish A Credit History

    Can't get a credit card without a credit history, and can't get a history without a card? Break the Catch-22.

  5. How An Insurance Company Determines Your Premiums

    Find out how insurers use credit history to build an insurance score and how it could affect your bottom line.

  6. The Ghouls And Monsters On Wall Street

    Learn about some of the creepiest cases of fraud and the characters behind them.

  7. The 5 Biggest Factors That Affect Your Credit

    Credit companies rely on these factors to determine whether to lend to you and at what rate.

  8. Uncovering A Career In Forensic Accounting

    Does a job as a financial sleuth sound interesting to you? Dig in to learn more.

  9. What is a monopoly?

    Monopoly is a fun family game, but in real life, a monopoly can be dangerous to a country's economy. A monopoly occurs when an industry or sector has only one producer of goods or retailer for ...

  10. The Uneven Consequences Of Corporate Misbehavior

    The system doesn't appear to be punishing misbehaving corporations as much as it should be.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  2. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  3. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.

  4. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.

  5. Affluenza

    A social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses." Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements.

  6. Icarus Factor

    The term Icarus factor describes a situation where managers or executives initiate an overly ambitious project which then fails. Fueled by excitement for the project, the executives are unable to reign in their misguided enthusiasm before it is too late to avoid the failure.
Trading Center