Israel Will Ban Cash Payments Over $4,400 on Monday

Key Takeaways

  • Beginning August 1, Israel will ban cash for personal transactions over $4,400 and business transactions over $1,760.
  • The country will impose fines between 15% and 30% of the relevant transaction value on those who violate the law.
  • The law is meant to fight financial crime by promoting the use of digital payments, which are easier to monitor.

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