Regulatory Alerts2018-01-01
Circular No. 177/2018: Reporting and Communication Mechanism with the Financial Monitoring Unit
The Palestine Monetary Authority issued Circular No. 177/2018 mandating that all foreign exchange dealers in Palestine must exclusively use the GoAML electronic platform to report suspicious transactions and communicate with the Financial Monitoring Unit, effective September 1, 2018. This directive enforces compliance with Anti-Money Laundering and Counter-Terrorist Financing laws by ensuring the confidentiality and speed of reporting through a centralized digital system. The circular provides a detailed user guide for registering organizations, logging in, and submitting Suspicious Activity Reports via the GoAML web interface.
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