On 3 February, ZD Net reported on a proposed Bill that, if passed, would essentially block the purchase of goods over AU$10,000 via cash and would also introduce offences for entities that make or accept cash payments of AU$10,000 or more. Under current law, businesses that provide certain “high risk” services must report cash payments for goods and services of AU$10,000 or more; and a person entering or departing Australia must declare amounts of physical currency of AU$10,000 or more.
