Regulatory Alerts2012-01-01
Instructions No. (2012/04) to All Money Changer Companies and Shops in Palestine: Counterfeit Currency
The Palestine Monetary Authority issued Instructions No. (2012/04) mandating all money changer companies and shops in Palestine to implement strict anti-counterfeiting measures effective immediately. The directive requires staff to undergo specialized training, utilize detection equipment, exercise heightened caution during cash transactions, and immediately report suspicious funds to internal auditors and the General Investigation Department. Additionally, institutions must retain counterfeit notes pending official investigation and formally document incidents using Report No. (13) in compliance with Article 244 of the Penal Code.
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