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Israel Online · Oct 23, 2026

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Bank Leumi CEO Accuses Facebook of Profiting From Scams Targeting Israelis Bank Leumi CEO Hanan Friedman has accused Meta of profiting from fraudulent Facebook advertisements impersonating Israeli banks and public figures. The criticism follows a NIS 26.6 million ($7 million) lawsuit filed by Bank Leumi against Meta over alleged phishing campaigns. According to the lawsuit, the bank reimbursed customers approximately NIS 3.9 million and identified 243 malicious advertising campaigns in July alone. The fake advertisements direct victims to fraudulent banking websites designed to steal login credentials and verification codes. "It's not a bug, it's a feature," Friedman declared, calling for stronger action against the scams. The allegations remain subject to ongoing legal proceedings. Join Israel online

*Bank Leumi CEO Accuses Facebook of Profiting From Scams Targeting Israelis* Bank Leumi CEO Hanan Friedman has accused Meta of profiting from fraudulent Facebook advertisements impersonating Israeli banks and public figures. The criticism follows a NIS 26.6 million ($7 million) lawsuit filed by Bank Leumi against Meta over alleged phishing campaigns. According to the lawsuit, the bank reimbursed customers approximately NIS 3.9 million and identified 243 malicious advertising campaigns in July alone. The fake advertisements direct victims to fraudulent banking websites designed to steal login credentials and verification codes. "It's not a bug, it's a feature," Friedman declared, calling for stronger action against the scams. The allegations remain subject to ongoing legal proceedings. *Join Israel online* https://chat.whatsapp.com/DBukXZYflhTLP3ziAz7WXC

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