Regulatory Alerts2025-01-01
Lending-2025 Circular No. 26 Criminal Method – Phishing via Email
The Palestine Monetary Authority issued Circular No. 26 (2025) to mandate specialized lending institutions in Palestine adopt specific precautionary and supervisory measures against a rising criminal phishing method that exploits breached or cloned email addresses to issue fraudulent payment remittances. The circular requires institutions to verify email authenticity, implement dual control and hold periods on transfers, conduct video verifications for foreign account payments, and deploy anti-phishing network tools. Furthermore, it obligates immediate internal reporting to the AML/CTF department and external notification to remitting banks, alongside filing formal complaints with electronic crimes prosecutors to ensure swift fund recovery and legal enforcement.