Businesses damaged through extortion to be assisted by NIS 35 million program backed by Smotrich

The Finance Ministry published final procedures for a NIS 35 million pilot program compensating uninsured businesses for property damage from protection-money extortion. Finance Minister Bezalel Smotrich advanced the measure, which begins Thursday and runs for about two months. The program provides an economic safety net to encourage business owners to refuse extortion payments and cooperate with law enforcement.

The Finance Ministry published final procedures for a NIS 35 million pilot program that will compensate uninsured businesses for direct property damage caused by protection-money extortion. Finance Minister Bezalel Smotrich advanced the measure. The pilot begins Thursday and will run for about two months in its first stage. It is meant to address the phenomenon of protection-money extortion, which constitutes a heavy economic burden on business owners. The program provides an economic safety net to help businesses maintain operational continuity and encourage them to cooperate with law enforcement. The Israel Tax Authority Property Tax Division will operate it, with close monitoring of effectiveness indicators. Smotrich called on business owners not to pay protection money, emphasizing that the State of Israel stands behind them. The article frames the program as a government response to a specific economic crime, quoting Smotrich's statement linking it to settlement policy in Judea and Samaria.