Bank Leumi CEO Accuses Facebook of Profiting From Scams Targeting Israelis
Translated & summarized from NEWSru Israel by baba
Bank Leumi CEO Hanan Friedman accused Meta's Facebook of profiting from fraudulent ads targeting Israelis, urging public support against the social network. Friedman stated Facebook earns significant revenue from these scams, which often use the bank's name. Bank Leumi has filed a lawsuit against Meta for 26.6 million shekels, alleging the company profits from deceptive advertising despite repeated complaints.
The story in 5 lines · by baba
- Bank Leumi CEO Hanan Friedman accused Facebook of profiting from fraudulent ads targeting Israelis.
- Friedman stated Facebook earns substantial revenue from deceptive ads that ensnare unsuspecting Israelis.
- Bank Leumi filed a lawsuit against Meta for 26.6 million shekels in August 2026.
- Investment specialist Tamir Mandowski offered to join the lawsuit after also being targeted by scammers.
- Friedman called for public support in the fight against Meta's alleged practices.
The CEO of Bank Leumi, Hanan Friedman, has sharply criticized Meta, the parent company of Facebook, accusing it of profiting from fraudulent advertisements on its platform that target Israelis. Friedman urged the public to join the fight against the social media giant, as reported by Ice.
Friedman stated on social media platform X that Facebook earns substantial revenue from deceptive ads that ensnare unsuspecting Israelis. These advertisements often misuse the names of prominent individuals and financial institutions like Bank Leumi. He asserted that it is time for media and regulatory bodies to recognize that Facebook is enriching itself by stealing money from Israelis.
According to Friedman, Meta has no incentive to stop these scams because they generate income for the company, calling it a "feature, not a bug." He confirmed that Bank Leumi has filed a lawsuit against Meta, which is ongoing, and vowed the bank would not back down.
Friedman called for anyone able to assist in combating Facebook's practices to join the effort. Investment specialist Tamir Mandowski, who has also experienced his name being used in scams, responded positively and expressed a desire to join the legal proceedings as a plaintiff.
In August 2026, Bank Leumi filed a lawsuit for 26.6 million shekels against Meta in the Tel Aviv District Court. The lawsuit alleges that Meta systematically allows paid fraudulent advertisements featuring the bank's name and branding to be distributed, continuing to profit from them despite repeated requests to remove such ads.
