The Bank of Israel is cracking down hard on the war against tax evasion.

The supervisor of Israeli banks, David Zaken, has ordered banks to require foreign customers to sign a declaration stating they have paid taxes on all the money in their accounts, Jewish Business News reports.

Every foreign resident who is a customer of or who wishes to open an account in an Israeli bank will have to provide details regarding the source of their income and to state that all legal taxes had been paid. In addition, the Bank of Israel will cooperate with world countries in order to obtain information regarding the required tax payment of each customer.

The Bank of Israel explained that Israel has noticed many countries have recently been keeping track of their residents’ foreign bank accounts and that customers’ illegal money transfer could risk Israeli banks’ reputation.

This move is likely to cause foreign residents to close their local bank accounts and to constitute a bureaucratic burden for the Israeli banks.