Regulatory Alerts2025-01-01
Circular No. 32/2025: Criminal Method Used in Fraud
The Palestine Monetary Authority issued Circular No. 32/2025 to warn payment companies about a new criminal fraud method involving impersonation of mobile phone retailers. Scammers trick victims into providing sensitive financial data, including OTPs and card details, through fake purchase links and advance payment requests. The Authority mandates that payment companies educate customers, report incidents to the Anti-Money Laundering and Counter-Terrorist Financing Department, and notify relevant authorities.
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