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.
[Logo of the Palestine Monetary Authority]
Palestine Monetary Authority
Circular No. (127/2025) To all banks operating in Palestine Date: Monday, October 06, 2025
Subject: Criminal Method Used in Fraud
The Palestine Monetary Authority urges banks to exercise caution and work to raise awareness among customers and citizens regarding a new criminal method used in electronic financial fraud. This fraud involves perpetrators impersonating one of the charitable organizations and contacting citizens via telephone or social media with the aim of obtaining shopping vouchers and food parcels provided by the association as assistance under the current circumstances. It requires the victim, in order to complete the process of receiving assistance, to provide the necessary details of their bank account to log in to the banking application, as well as images and numbers of bank cards, PINs, and verification codes.
The Palestine Monetary Authority emphasizes the continued periodic awareness of customers and citizens regarding fraud methods and ways to prevent them, and the dissemination of this information in bank branches and offices as well as through their social media channels. Banks are also required to report fraud incidents to the Anti-Money Laundering and Combating the Financing of Terrorism Department at the Palestine Monetary Authority, and to notify the competent authorities in accordance with established procedures.
The Supervision Group Palestine Monetary Authority
www.pma.ps Ramallah and Al-Bireh Governorate - Palestine P.O. Box 452 Postal Code: 6160675 | Tel: +970 2 2415251 | Fax: +970 2 2415310 | info@pma.ps