Palestine regulates AML/CTF through the Financial Follow-Up Unit at the Palestine Monetary Authority and the Anti-Money Laundering Law of 2007. See the obligations and how MemberCheck supports them.
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Palestine combats financial crime through the Financial Follow-Up Unit, an independent body housed at the Palestine Monetary Authority and established under Article 19 of the Anti-Money Laundering Law of 2007.
Financial institutions must file reports when cash transactions meet thresholds set by the national AML committee or when activity looks suspicious, respond to requests for information, and disclose confidential records to judicial bodies where required. The law protects institutions and staff who report in good faith and expects continual compliance training.
MemberCheck helps teams meet these obligations by screening customers and entities against global sanctions, PEP, and adverse-media data, verifying identities, and monitoring risk continuously, with a clear audit trail behind every decision.
Palestine's financial intelligence unit, an independent body housed at the Palestine Monetary Authority and established under Article 19 of the Anti-Money Laundering Law of 2007. It receives and analyses suspicious transaction reports.
Palestine's principal AML statute. It sets suspicious and cash transaction reporting duties, information-gathering powers, banking secrecy exceptions for judicial bodies, and good-faith protection for reporting entities.
The Palestine Monetary Authority supervises banks, money changers, and lending institutions. The Palestine Capital Market Authority supervises securities, insurance, financial leasing, and mortgage finance, and both work with the FFU on AML/CTF compliance.
As a MENAFATF member, Palestine aligns its regime with the FATF Recommendations that shape expectations for financial institutions and designated non-financial businesses.
Supervision is split between two authorities. The Palestine Monetary Authority supervises banks, money changers, and lending institutions, and the Palestine Capital Market Authority supervises securities, insurance, financial leasing, and mortgage finance. The Financial Follow-Up Unit (FFU), an independent body housed at the Palestine Monetary Authority, has a distinct role as the financial intelligence unit that receives and analyses suspicious transaction reports.
The Anti-Money Laundering Law of 2007 is Palestine's principal AML statute, setting suspicious and cash transaction reporting, information-gathering, and compliance training obligations.
Palestine is a member of MENAFATF, the FATF-style regional body for the Middle East and North Africa, and aligns its AML/CTF regime with the FATF Recommendations.
MemberCheck screens customers and entities against global sanctions, PEP, and adverse-media data, verifies identities, and monitors risk continuously, with an audit trail behind every decision.
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