What is ‘Bag Man’
Any person in charge of organizing, collecting and transporting money, generally in connection with illegal or illicit activities. A bag man is someone who collects and delivers money on behalf of a boss or organization. Nowadays, bag man can be used pejoratively to describe an individual who is in charge of collecting and delivering contributions to political parties or funds gathered for political purposes.
Explaining ‘Bag Man’
The term was originally used to describe Mafia members who collected money for the Mafia bosses, and was later used to describe the corrupt practice in which police officers would pick up and deliver bribes from local Mafia to the precinct police captain. A bag man typically receives a percentage of the collected and delivered money in exchange for his or her services.
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- Presidential address: The scientific outlook in financial economics – onlinelibrary.wiley.com [PDF]