Regulatory Alerts2025-01-01
Circular No. 22/2025: A Criminal Method Used in Fraud
The Palestine Monetary Authority issued Circular No. 22/2025 to instruct payment service companies to alert clients and citizens about a newly emerging electronic fraud method involving fraudsters impersonating charitable associations. The circular requires these companies to verify that customers provide accurate account details, payment card images and numbers, PINs, and verification codes when receiving shopping vouchers or food parcels via phone or social media. Furthermore, payment service companies must maintain periodic customer awareness campaigns, disseminate fraud prevention information through their official social media channels, and promptly report all fraud incidents to the Authority’s Anti-Money Laundering and Counter-Terrorist Financing Department and relevant authorities.