Regulatory Alerts2022-01-01
Circular No. 55/2022 - IT and Information Security Operational Incidents
The Palestine Monetary Authority issued Circular No. 55/2022 mandating all payment service companies operating in Palestine to establish an internal information security team and submit a gap analysis and remediation plan by June 30, 2022. The directive requires immediate notification of any cyber incidents, fraud, system failures, unauthorized access, or data breaches affecting company systems or third-party contractors, regardless of service disruption duration. Companies must report these incidents via designated email or phone, followed by a detailed written submission within two days using the provided incident form.
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