This study employs a qualitative, desk-based research design to conduct a systematic content analysis of the relationship between illicit economies, private military forces, and ethical degradation in conflict. Drawing on a diverse range of secondary data—including scholarly literature, organizational reports, and media analyses—the study explores how contemporary conflict has evolved into a self-sustaining business model termed “advanced war entrepreneurship.” The analysis is structured to identify, categorize, and synthesize key findings across three core themes: the role of illicit economies (e.g., oil bunkering, conflict minerals) as the financial engine of conflict; the privatization of violence through Private Military and Security Companies (PMSCs) and other non-state actors; and the subsequent erosion of ethical norms and international law, or “compromised morality.” Findings demonstrate that conflict is no longer a political event with economic consequences, but rather a profitable enterprise where the pursuit of financial gain drives violence and human rights abuses. The study concludes that this business model not only perpetuates conflict but also systematically undermines international legal frameworks, creating a climate of impunity that ensures its continuation.