Regulatory Alerts2025-01-01
Circular No. 2025/171: Criminal Method Used in Fraud
The Palestine Monetary Authority issued Circular No. 2025/171 to alert banks to a new criminal fraud method involving impersonation of mobile phone retailers. The circular details how scammers solicit advance payments and sensitive personal data, including OTPs and bank details, through fake links and social media. Banks are required to continuously educate customers about these risks, display warnings in branches, and report incidents to the Anti-Money Laundering and Counter-Terrorism Financing Department.
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