Global finance: the reason behind government $10000 cash payment limit

Under proposed laws, payments of over $10,000 in cash will become a criminal act, and we could face two-year jail sentences and fines of up to $25,200. Ivan invited Dr. Wei Li from Sydney University Business School to help us understand the pros and cons of setting limited to the cash economy.

Taskforce to probe undeclared cash payments, $100 note ban considered Source: Shutterstock