Regulatory Alerts2024-01-01
Circular No. 71 Follow-up on the Digital Risk Protection System
The Palestine Monetary Authority requires all banks operating in Palestine to submit a progress report and fraud statistics regarding their implementation of the Digital Risk Protection System by Sunday, 11 August 2024. The submission must detail the status of system deployment, quantify successful and unsuccessful fraud cases involving fake pages, websites, and applications impersonating the bank both before and after implementation, and list discovered and closed fake digital platforms. Banks must provide these updates alongside specific metrics on fake web pages, social media accounts, and mobile applications to ensure ongoing compliance with Cybersecurity Framework No. 11 of 2022 and Circular No. 29/2024.
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