Regulatory Alerts2025-01-01
Circular No. 165/2025: User Style and Pattern in Electronic Financial Fraud
The Palestine Monetary Authority issued Circular No. 165/2025 to warn banks about a specific electronic fraud pattern involving impersonation and OTP exploitation. The circular mandates that banks link financial transaction approvals to unique, per-transaction OTPs rather than reusing previously accepted codes. Additionally, banks are required to establish financial caps on prepaid mobile top-ups and digital product purchases while enhancing monitoring systems to detect similar fraudulent patterns.
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