Regulatory Alerts2017-01-01
Circular No. 31: Emerging Criminal Methods in ATM Hacking and Theft
The Palestine Monetary Authority issued Circular No. 31/2017 to alert all operating banks to a new criminal technique involving physical drilling into ATMs to access internal data cables and hijack them via specialized devices, particularly targeting unencrypted machines. The circular mandates that all banks immediately implement necessary preventive safeguards and conduct regular physical inspections of their ATM networks to mitigate this specific vulnerability. Financial institutions are required to ensure continuous monitoring and system hardening to prevent unauthorized access, hacking incidents, or physical theft of ATM components.
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