Regulatory Alerts2023-01-01
Circular No. 32 (2023) - Payment Sector Guideline on Reporting Suspicious Transactions and Activities
The Palestine Monetary Authority issued Circular No. 32/2023, attaching the Guideline on Reporting Suspicious Transactions and Activities to all payment service companies operating in Palestine. The circular mandates these entities to implement necessary measures that improve the quality of reports submitted to the Financial Monitoring Unit. Specifically, payment service companies must train relevant staff on suspicious indicators and internal reporting requirements while enhancing the monitoring of suspicious activities and transactions through defined indicators and scenarios.
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