Regulatory Alerts2022-01-01
Circular No. 55/2022: Regarding Operational Events Related to Information Technology - Information Security
The Palestine Monetary Authority issued Circular No. 55/2022 requiring all payment service companies operating in Palestine to establish internal teams for information security risk assessment and submit gap analysis reports by June 30, 2022. The regulation mandates immediate notification of any cyberattacks, fraud, system failures, unauthorized access, or data breaches that impact company systems or services. Companies must follow specific reporting protocols via email or phone followed by detailed written submission within two days, utilizing the provided incident form for comprehensive documentation.
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