Regulatory Alerts2025-01-01
Circular No. 83/2025: Criminal Method Used in Fraud
The Palestine Monetary Authority issued Circular No. 83/2025 to alert banks to a new electronic fraud scheme where criminals trick Palestinians into handing over their bank cards at sales or charging centers. The Authority mandates that banks educate customers on the risks of surrendering cards to unauthorized persons and the subsequent misuse of funds for external purchases or cash withdrawals. This directive emphasizes the critical need for continuous customer awareness regarding the protection of personal and banking data.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (83/2025)
To all banks operating in Palestine
Date: Thursday, July 24, 2025
Subject: Criminal Method Used in Fraud
The Palestine Monetary Authority urges banks to work on raising citizen awareness regarding a new criminal method used in electronic financial fraud, which involves fraudsters deceiving Palestinian citizens into handing over their bank cards at sales or charging centers for the purpose of sending and delivering them to individuals located inside or outside Palestine.
Fraudsters proceed to use the bank cards and the data obtained from victims to settle external purchases and bills, or to conduct cash withdrawals via ATMs outside Palestine.
The Palestine Monetary Authority emphasizes the necessity of continuing to educate customers on safeguarding their personal and banking data and not sharing it with others, as well as educating them on the safe and smooth use of bank cards and the danger of handing them over to unauthorized persons for use.
Supervision Group
Palestine Monetary Authority
Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452
Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452
Postal Code: P6160675 | Phone: +970 2 2415251 | Fax: +970 2 2415310 | info@pma.ps