👉 Spoilbank is a financial term that refers to a type of bank account in which funds are held by the government or other governmental entities without any interest paid on them. This is often used as a way to hide income or avoid paying taxes, as it does not have to be repaid with interest. The idea behind a spoilbank is to create an illusion that the money is being invested in a reputable source of investment, but actually holds no real value and may only be available for short-term
