Regulatory Alerts2012-01-01
Instructions No. 4 of 2012 Regarding Counterfeit Currency
The Palestine Monetary Authority issued Instructions No. 4 of 2012 mandating all licensed exchange companies and offices in Palestine to implement strict anti-counterfeiting protocols. The directive requires comprehensive staff training on counterfeit detection, mandatory installation of detection machines, and rigorous verification procedures when handling customer cash. Furthermore, it establishes a mandatory reporting framework for suspicious transactions, requires the immediate retention of suspected counterfeit notes with full documentation, and compels notification of the General Investigations Department in compliance with Article 244 of the Penal Code.
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