Circular No. 29 on the Implementation of a Digital Risk Protection System

Palestine Monetary Authority

Circular No. (29 / 2024)
To all banks operating in Palestine
Date: Wednesday, 20 March, 2024

Subject: Implementation of a Digital Risk Protection System

Following our instructions regarding the requirements of Cybersecurity Regulatory Framework No. (11) for 2022, and in line with the Palestine Monetary Authority's efforts to develop the technological environment and electronic services within banks, and as a result of the increased use of electronic means in executing banking operations alongside the corresponding rise in threats related to fraud through electronic payment channels, all banks are requested as follows:

1. Provide a system to protect the bank's digital risks and brand reputation from external threats, such as: use of a domain name similar to the bank's domain name, phishing attacks, creation of fake pages under the bank's name on social media platforms, creation of fake links utilizing the bank's logo and name.
2. Continuous monitoring via the (Dark Web) to identify any unauthorized leakage or exploitation of the bank's and customers' data, or employees' login credentials.

Supervision Group
Palestine Monetary Authority

--- www.pma.ps
Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 Postal code: 6160675 | Tel: +970 2 2415251 | Fax: +970 2 2415310 | info@pma.ps

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