Australia Outlaws Cash Transactions

Australia Outlaws Cash Transactions

May 10, 2018 Sean Adl-Tabatabai News, World 6

Australia implements large cash ban

The Australian government has outlawed citizens from using cash to buy expensive goods as part of a crackdown on money launderers and organized crime.

From now on, anybody trying to purchase goods or services that exceed $10,000, must use electronic forms of money to pay. reports: Those wanting to spend up big will have to use either electronic transfer services or a cheque to make a purchase.

It is understood there was a push-back within the Government at the $10,000 limit, with some West Australian MPs arguing it should be higher.