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

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.