The Ministry of Banking Supervision has published a draft guidance that would commit banks to prepare phone instructions on the financial fraud that will work around the clock throughout the week. Under the new requirements, banks must be available to their customers around the clock throughout the week, and provide a professional response by a person to customers in case of doubt about fraud or abuse of payment services.
Moreover, the guidance states that waiting for an answer should not be more than six minutes from the start of the call, which is similar to the provisions of the law related to calls to other issues (such as account inquiries, account closure, and dealing with faults). The public has until September 14 to comment on the new guidance.
What is important in helping the bank, unlike the General Directorate of General Assistance of Israel, which is also available to the public, is that it will be able to provide at least an immediate response by stopping fraud, preventing the account or payment. The Banking Supervision Administration emphasizes that the main thing is the availability, as many frauds are performed at night or Saturday, when there is no one to talk to him in the bank and the customer leaves helpless. The attacker continues to attract money from the account, and the attack is not stopped or even has not been discovered for several hours.
The guidance comes against the background of increasing fraud, especially financial fraud on the Internet. Many attackers take advantage of ignorance and human weakness, such as feeling pressure or panic to make people click harmful bonds or to provide personal information.
“The Ministry of Banking Supervision has one of its main goals to enhance various measures to help the battle against financial fraud, in light of the high number of fraud cases that involve bank accounts and payment mechanisms.”
The new requirements do not prevent banks from using digital channels to communicate with customers, and the Ministry of Banking Supervision recommends the use of these channels for customers who realize digitally. Bank agents are once again warned of fraudsters who are formed in the Bank of Israel, Israel Police, or Banks, and it is demanded to “increase awareness, and avoid delivering personal and confidential details.”
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The guidance states that if there is a doubt about fraud, people are recommended to contact the bank’s security management or the general complaints department, and if no satisfactory response is received, the matter can be referred to the Ministry of Banking Supervision at the Bank of Israel.
It was published by Globes, Israel Business News – En.globes.co.il – on September 1, 2025.
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