Regulatory Alerts2026-04-02
Added · Updated
Circular on establishing specialized fraud management departments in banks
All banks operating in the Arab Republic of Egypt are required to establish a specialized department for fraud management and combat that reports directly to the Head of the Risk Sector. This department must prepare fraud combat strategies, conduct independent risk assessments, monitor digital payment systems, examine counterfeit currency, and maintain internal warning lists. Banks must obtain prior Central Bank approval for new fraud combat officials and submit current managers' data for registration. Institutions have a six-month period to comply with these instructions.
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