Though this is addressed to the Children of Israel, it is intended for all of humanity, because the last day, that Allah U has promised us with, is when all of humanity will be raised, the children of Israel and others besides them.
However, Allah U emphasizes the children of Israel in His address here and He says to them: ﴾وَاتَّقُوا يَوْمًا﴿ “And fear a Day”
meaning, make a barrier between yourselves and the punishment of that Day, which is the day of standing, a day of reckoning and recompense. A person might be able to run away from the reckoning in this world, but he will not be able to escape from the reckoning in the next world. If there were no reckoning in the next world, people would transgress and oppressors will oppress much more than the transgression and oppression that they are already doing now.
﴾وَاتَّقُوا يَوْمًا تُرْجَعُونَ فِيهِ إِلَى اللَّهِ ۖ ثُمَّ تُوَفَّىٰ كُلُّ نَفْسٍ مَّا كَسَبَتْ وَهُمْ لَا يُظْلَمُونَ﴿
“And fear a Day when you will be returned to Allah . Then every soul will be compensated for what it earned, and they will not be treated unjustly.” [Surah Al-Baqarah: 281].