Regulatory Alerts2024-01-01
Circular No. 29 on the Implementation of a Digital Risk Protection System
The Palestine Monetary Authority mandates all banks operating in Palestine to implement a comprehensive digital risk protection system and conduct continuous Dark Web monitoring. This requirement, issued under Circular No. 29/2024 following Cybersecurity Regulatory Framework No. 11, addresses rising electronic payment fraud by safeguarding brand reputation against external threats such as domain spoofing, phishing attacks, and fraudulent social media pages or links. Banks must also establish ongoing Dark Web surveillance to promptly detect unauthorized data breaches or the exploitation of customer and employee login credentials.
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