Regulatory Alerts2025-01-01
Circular No. 127/2025: Criminal Method Used in Fraud
The Palestine Monetary Authority issued Circular No. 127/2025 to alert banks to a new fraud scheme where criminals impersonate charitable organizations to steal banking credentials. The regulator requires banks to actively educate customers about this threat, which involves obtaining sensitive data such as card numbers and PINs under the guise of distributing aid. Additionally, banks are mandated to report fraud incidents to the AML/CFT department and relevant authorities while maintaining ongoing public awareness campaigns.
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