Regulatory Alerts2025-01-01
Payments-2025- Circular No. 26 Criminal Technique – Phishing via Email
The Palestine Monetary Authority issued Circular No. 26/2025 to require payment service companies in Palestine to implement specific preventive and supervisory measures against a targeted email phishing technique that exploits breached corporate accounts. The directive mandates strict verification of sender addresses, IBANs, and financial claim timing, alongside dual-control transfer approvals, mandatory holding periods, video-call confirmations for foreign payments, and immediate internal and regulatory reporting upon fraud detection. Furthermore, it establishes clear legal pathways for fund recovery through correspondent banks and the Cybercrime Public Prosecution while requiring prompt notification to the AML/CTF Department with full incident details within three working days.