New Circular to Regulate Investigations in Banking App Transfer Cases

Attorney General Fath Al-Tayfour issued circular 2/2024, regulating investigations into cases involving incorrect electronic money transfers via banking apps. The circular notes that the economic arena has witnessed significant growth in electronic banking transactions. It also addresses the issue where some public prosecutors requested banks to return funds claimed to have been transferred by mistake, while other prosecutors refrained from such actions due to the lack of legal grounds.

The Attorney General emphasized that this measure impacts the legal and financial standing of the parties involved. To unify procedures and based on the powers granted under the Public Prosecution Law of 2017, he issued a directive stipulating that if funds are claimed to have been transferred by mistake via banking apps, the public prosecutor must conduct preliminary investigations under article 47 of the 1991 Criminal Procedure Law. Once initial evidence is obtained, a criminal case can be opened, and the prosecutor may freeze the suspected funds but is not authorized to instruct the bank to return the money to the claimant.