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News   Israel News

Wiz to transfer funds out of Israel due to judicial overhaul

The Israeli cybersecurity giant is the third company to withdraw holdings from Israel over Justice Minister Yariv Levin’s judicial reform plan, after Papaya Global and Disruptive Technologies Venture Capital.

Israeli high-tech workers protest against Justice Minister Yariv Levin's proposed judicial reforms, in Tel Aviv, on Feb. 7, 2023. Photo by Tomer Neuberg/Flash90.
Israeli high-tech workers protest against Justice Minister Yariv Levin’s proposed judicial reforms, in Tel Aviv, on Feb. 7, 2023. Photo by Tomer Neuberg/Flash90.
(Feb. 7, 2023 / Israel Hayom)

Israeli cybersecurity giant Wiz will be transferring its funds out of Israel due to concerns over the new government’s proposed judicial reform, the company announced this week.

The funds will be transferred to bank accounts around the world, Wiz said in a statement.

The company was among the leading Israeli tech firms that held a warning strike last week in protest against the reforms, claiming that if they were implemented Israel’s standing as a tech hub could be harmed.

Wiz is the third company to withdraw holdings from Israel, following in the footsteps of Papaya Global and Disruptive Technologies Venture Capital.

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