Regulatory Alerts2011-01-01
Circular No. 166 Operational Risks
The Palestine Monetary Authority issued Circular No. 166 to mandate all Palestinian banks to implement enhanced security protocols against escalating operational risks, specifically targeting ATM skimming and check forgery. Banks are required to adopt comprehensive preventive measures to identify and neutralize the root causes of these fraudulent activities. Furthermore, all institutions must immediately report any confirmed or suspected incidents to the regulator for oversight and coordinated response.
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