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.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
(2014/65) Circular No.
To all banks operating in Palestine
Date: Monday, May 05, 2014
Subject: Fraudulent Transactions via ATMs
In light of the fraudulent incidents that have occurred recently by certain individuals, involving cash withdrawals via ATMs belonging to some banks operating in Palestine using counterfeit cards linked to external accounts, please exercise caution and verify the quality of surveillance cameras on ATMs, and take the necessary measures to prevent the completion of such transactions, and notify us accordingly.
Public Relations and Market Officers Department
Palestine Monetary Authority
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487
Email: info@pma.ps