Meaning
Fraud, hustling, or illegal and dishonest dealings — and, as an adjective, anything crooked, counterfeit, or got by trickery. Broader than plain 'scam', 'bandooloo' can name a whole way of operating outside the law, a lifestyle of the con and the hustle, so that 'bandooloo business' is shady, illicit dealing and 'bandooloo goods' are fake or stolen. It belongs to the frank Jamaican talk of the informal, crooked economy, naming the trickery, the counterfeiting, and the sharp practice by which some make their living.
Examples
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Di man deh inna bandooloo bizniz, so nuh trust him.
That man is in shady business, so don't trust him.
'deh inna' means 'is in' with no copula before the location/state.
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Dat a bandooloo money, mi nah tek it.
That's dirty money, I won't take it.
'nah' negates the continuous/future, meaning 'am not going to'.
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Dem sell mi one bandooloo phone weh nuh work.
They sold me a fake phone that doesn't work.
Adjectival use meaning counterfeit or fraudulent.
Origin
Believed to derive from a West African source; sometimes linked to Spanish 'bandolero' (bandit), though the precise origin is debated.
How it’s used
Common across all social classes when discussing corruption or scams. Not itself vulgar, but describes criminal activity, so calling someone a bandooloo is a serious accusation.