Regulatory Alerts2014-01-01
Circular No. 65: Fraudulent Transactions via ATMs
The Palestine Monetary Authority issued Circular No. 65 to address recent fraudulent cash withdrawals conducted via ATMs using counterfeit cards linked to external accounts. The directive mandates all banks operating in Palestine to immediately verify the quality and functionality of ATM surveillance cameras and implement necessary preventive measures to stop such unauthorized transactions. Banks are required to promptly report their compliance actions and any incidents to the Authority to ensure coordinated mitigation efforts.
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