Regulatory Alerts2025-01-01
Circular No. 30 (2025) – Payment Style and Pattern in Electronic Financial Fraud
The Palestine Monetary Authority issued Circular No. 30 (2025) to address a newly identified electronic financial fraud pattern involving impersonated bank and payment staff soliciting customer data via social media calls and messages. The directive mandates that payment service companies link transaction authentication to unique, per-transaction One-Time Password (OTP) codes rather than accepting previously validated ones, while establishing financial ceilings for prepaid mobile top-ups and digital purchases. Furthermore, institutions must implement continuous monitoring scenarios to detect recurring fraud patterns and distinguish between natural and legal customers in compliance with existing regulations.
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