Regulatory Alerts2022-01-01
Exchangers-2022-Circular No. 162 Combating Counterfeiting and Forgery Crimes
The Palestine Monetary Authority issued Circular No. 162 (2022) mandating all exchangers in Palestine to implement strict preventive and legal measures to combat currency counterfeiting and check forgery. The directive requires financial institutions to utilize UV inspection devices, train staff on detecting manual and chemical manipulation indicators, and strictly prohibit returning or destroying suspected counterfeit items. Additionally, exchangers must refuse transactions for individuals with suspicious identification or behavior, and immediately report all suspected cases to General Security, the Public Prosecution, and the Financial Follow-up Unit via the GoAML system.
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