Regulatory Alerts2023-01-01
Circular No. 30: Guideline on Reporting Suspicious Transactions and Activities
The Palestine Monetary Authority issued Circular No. 30/2023 to mandate all banks operating in Palestine to adopt the attached Guideline on Reporting Suspicious Transactions and Activities. The directive requires financial institutions to train relevant personnel on suspicion indicators and internal reporting protocols, while simultaneously enhancing transaction monitoring through defined indicators and scenarios. These mandatory measures aim to directly improve the quality and effectiveness of suspicious activity reports submitted to the Financial Monitoring Unit.
Share