Purpose

This paper aims to highlight the role of the Palestine Monetary Authority (PMA) in combating money laundering. The discussion will focus on the sectors under the PAM authority by examining the issued instructions.

Design/methodology/approach

The current study is a pure legal study. The methodology used in this paper is the qualitative approach by focussing on the doctrinal mechanism. Thus, it focussed on procedures, processes, laws, and regulations.

Findings

This paper found serious organisational inefficiencies within the governance framework of anti-money laundering (AML) for both the currency exchange and specialised lending institutions sectors. Moreover, the PMA’s role in combating money laundering is insufficient where its efforts are limited by random inspection visits and the installation of surveillance cameras in the money changers shops.

Practical implications

The findings may influence both the currency exchange and specialized lending institutions sectors to adopt a more vigilant approach to prevent the occurrence of money laundering in Palestine and to undertake more responsibility in ensuring compliance with the current AML legal framework. The study also highlighted that their current practice might place them in danger of non-compliance.

Originality/value

The paper demonstrated in, an exceptional way, the role of the PMA in combating money laundering by focussing on both legal and regulatory requirements for the three sectors under the PMA supervision authority. This paper made a valuable contribution to the study of combating money laundering in Palestine, where it is one of the first studies dealing with this issue involving this country.

中文翻译：

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巴勒斯坦货币当局在打击洗钱方面的作用

目的

本文旨在强调巴勒斯坦金融管理局 (PMA) 在打击洗钱方面的作用。讨论将通过审查已发布的指令集中在 PAM 权限下的部门。

设计/方法/方法

目前的研究是一项纯粹的法律研究。本文所使用的方法是定性方法，侧重于教义机制。因此，它侧重于程序、流程、法律和法规。

发现

本文发现货币兑换和专业贷款机构部门的反洗钱 (AML) 治理框架内存在严重的组织效率低下。此外，PMA 在打击洗钱方面的作用是不够的，因为它的努力受到随机检查访问和在货币兑换店安装监控摄像头的限制。

实际影响

调查结果可能会影响货币兑换和专业贷款机构部门采取更加警惕的方法来防止巴勒斯坦洗钱的发生，并在确保遵守当前的反洗钱法律框架方面承担更多责任。该研究还强调，他们目前的做法可能会使他们面临不遵守的危险。

原创性/价值

该文件以一种特殊的方式展示了 PMA 在打击洗钱方面的作用，重点关注 PMA 监管机构下三个部门的法律和监管要求。本文对巴勒斯坦打击洗钱的研究做出了宝贵贡献，它是涉及该国的最早涉及该问题的研究之一。