Palestine Monetary Authority

Circular No. (166)
To All Banks Operating in Palestine

Date: Thursday, October 06, 2011

Subject: Operational Risks

Recently, several cases of ATM card forgery have emerged through the attachment of small devices to ATMs. These devices copy the PIN and card number, which are then used to withdraw funds from customer accounts.

Additionally, multiple cases of check forgery and withdrawal from actual bank accounts at certain banks have been observed recently, contributing to increased operational risks.

Therefore, all banks are requested to exercise caution and adopt all measures necessary to address and control the causes leading to such incidents, and to notify the Palestine Monetary Authority in the event of any occurrence.

Directorate of Inspection and Supervision
Palestine Monetary Authority

Ramallah - Al Bireh P.O.Box 452 - Tel.: 02-2409920 - Fax: 02-2409922 Gaza - P.O. Box 4026 - Tel.: 08-2825713 - Fax: 08-2844487 E-mail: info@pma.ps Ramallah - Al Bireh P.O. Box 452 - Tel.: 02-2409920 - Fax: 02-2409922 Gaza - P.O. Box 4026 - Tel.: 08-2825713 - Fax: 08-2844487 www.pma.ps