Palestine Monetary Authority

Circular No. (2025/ 180)
To all banks operating in Palestine
Date: Sunday, December 28, 2025

Subject: Criminal Method Used in Fraud

The Palestine Monetary Authority urges banks to exercise caution and vigilance, and to work on raising awareness among customers and citizens regarding a newly emerging criminal method used in electronic financial fraud. This method involves fraudsters impersonating bank employees and contacting customers via telephone to inquire about payment transactions for purchases from online stores that were attempted to be executed on their accounts using bank cards. The fraudster then attempts to convince the victims that the purchases in question are attempts at electronic financial fraud, and that it is necessary for the customer to provide the caller with the verification code (OTP) received on their mobile phone for the purpose of the bank completing the procedures to block the card used in the fraud and issuing a new card in its place.

The Palestine Monetary Authority emphasizes the necessity of the following:

1. Continuing to educate customers and citizens periodically about fraud methods and ways to prevent them, and working on preparing and designing awareness brochures and videos on this subject, and publishing them in the bank's branches and offices as well as through its social media channels.

2. Reporting to our Anti-Money Laundering and Counter-Terrorism Financing Department the fraud methods and patterns that have been discovered and are newly emerging.

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Supervision Group
Palestine Monetary Authority

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