Economy

Bank Leumi Sues Meta for NIS 26.6 Million Over Fraudulent Ads Impersonating the Bank

Published

Courtroom-sketch editorial illustration of a lone customer in a dark coat and knitted skullcap stepping through the open glass doorway of a Bank Leumi branch at center, the branch's illuminated blue sign panel mounted on the rough stone-clad facade above him and a lit display window holding a large screen at right, blocks of cut stonework framing both sides of the entrance, drawn in warm ochre and slate-blue chalk and pastel strokes with cross-hatching on sepia newsprint.

Bank Leumi filed a claim in the Tel Aviv District Court against Meta, seeking NIS 26.6 million over sponsored advertisements on Facebook and Instagram that use the bank's name, logo and branding without authorization. The ads offer fake vouchers, cars and raffles, and route users to spoofed sites that harvest login credentials and verification codes later used to drain accounts. The sum comprises NIS 3.9 million refunded to defrauded customers, NIS 17.7 million in handling and monitoring costs, and NIS 5 million for reputational damage. Leumi identified 243 fraudulent ads in July and says customers lost NIS 590,000 in early August. Meta had not responded to the claim.

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