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.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (173/2025)
To all banks operating in Palestine
Date: Sunday, December 14, 2025
Subject: Unusual Behavior of Repeatedly Stopping Checks Due to Loss
Recently, suspicious and unusual behavior has been observed related to the misuse of the "stopping checkbooks due to loss and disappearance" service by some individuals to defraud and deceive citizens. This behavior consists of repeatedly stopping checkbooks/checks for the same reason after a short period has elapsed since obtaining new checks instead of the lost ones.
Therefore, the Palestine Monetary Authority urges banks to exercise caution and take necessary measures to mitigate risks, and to report any similar events detected to our Anti-Money Laundering and Counter-Terrorist Financing Department.
Supervision Group
Palestine Monetary Authority
Note:
www.pma.ps
Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452
Postal code: P6160675 | Postal code: P6160675
Tel: +970 2 2415251 | Tel: +970 2 2415251
Fax: +970 2 2415310 | Fax: +970 2 2415310
info@pma.ps