Regulatory Alerts2022-01-01
Circular No. 260 (2022) on Social Media Pages for Money Changers
The Palestine Monetary Authority issued Circular No. 260 (2022) to combat fraudulent social media pages impersonating licensed financial institutions and money changers. The circular mandates that all money exchange companies providing remittance services must verify their official social media pages with a blue badge by the end of 2022, regularly educate the public about legitimate services and cybercrime tactics, and report impersonating pages or links to the Public Prosecution’s Cybercrime Unit and the Authority’s AML/CFT department. These measures aim to prevent citizens from falling victim to phishing scams, fake prize draws, and unauthorized financial transactions.
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