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Israel's parliament passed a law that limits the amount of cash in the economy in an effort to fight against dirty money, economic crime and money laundering. Israel's government loses "billions of shekels in revenue every year" because of under-the-table cash transactions, the Tax Authority said on Tuesday. The new law imposes a limit of 11,000 shekels ($3,197) on cash transactions made to businesses, which could be further reduced by the finance minister 6,000 shekels in 2020.

Copyright Reuters, 2018

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