Regulatory Alerts2025-01-01
Circular No. 173/2025: Unusual Behavior of Repeatedly Stopping Checks Due to Loss
The Palestine Monetary Authority issued Circular No. 173/2025 to alert banks to suspicious behavior where individuals fraudulently exploit the checkbook loss service by repeatedly reporting new checks as lost shortly after issuance. The regulator mandates that all banks operating in Palestine exercise heightened caution and implement necessary measures to mitigate these risks. Banks are further required to report any detected instances of such fraudulent activities to the Authority's Anti-Money Laundering and Counter-Terrorist Financing Department.
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