Regulatory Alerts2022-01-01
Circular No. 62/2022 Combating Counterfeiting and Forgery Crimes
The Palestine Monetary Authority issued Circular No. 62/2022 to mandate money changers in Palestine implement strict preventive and legal measures against currency counterfeiting and check forgery. The directive requires staff to utilize UV inspection devices, verify banknote authenticity with compliant counting machines, and recognize specific tampering indicators such as ink mottling, erased security lines, and VOID mark distortion. Furthermore, it prohibits returning or destroying suspected fraudulent instruments, mandates halting transactions for clients with obscured identities or suspicious behavior, and compels immediate reporting to General Security, the Public Prosecution, and the Financial Monitoring Unit via GoAML.
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