Regulatory Alerts2025-01-01
Circular No. 2025/34: Criminal Method Used in Fraud
The Palestine Monetary Authority issued Circular No. 2025/34 to warn payment service companies about a new fraud scheme where criminals impersonate company staff to trick customers into revealing OTP codes. The regulator requires companies to maintain continuous customer awareness campaigns regarding fraud prevention and to report any newly discovered fraud patterns to the Anti-Money Laundering and Combating the Financing of Terrorism department. This directive aims to protect consumers from financial loss by ensuring prompt detection and reporting of such criminal activities.
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