Jerusalem Post: Israel takes the next step in destroying individual liberty by making cash transactions beyond USD $1700.00 illegal

 

J-Post: Israel takes the next step in destroying individual liberty by making cash transactions beyond USD $1700.00 illegal

Israel bans use of cash for purchases larger than NIS 6,000

Cash deals exceeding 6,000 NIS will be illegal, as part of the effort to fight against money laundering and criminal activity.

A new law is set to take effect in Israel starting August 1 that will ban payments of large sums of money in cash and bank checks. The goal of the reform, according to a statement issued by Israel’s Tax Authority, is to fight organized crime, money laundering and tax non-compliance.

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Under the new law, any payment to a business above 6,000 NIS ($1,700) must be made using alternative methods, such as a digital transfer or a debit card. Trading between private citizens who are not listed as business owners will be limited to 15,000 NIS ($4,360) in cash. This is another step in Israel’s fight against the use of cash. Previously, cash up to the amount of 11,000 NIS ($3,200) could be used in business deals. “We want the public to reduce the use of cash money,” adv. Tamar Bracha, who is in charge of executing the law on behalf of Israel’s Tax Authority, told The Media Line.

Israel also has among the strictest vaccine mandates in the world.