Paypal Holdings Inc. (NASDAQ: PYPL) has partnered with the Anti-Defamation League to fight extremism and hate throughout the financial industry and across at risk communities. This effort is focused on combating racism, hate and extremism across its platforms and industry. ADL and Paypal have launched a research effort to address the need to understand how extremist and hate movements within the United States are leveraging financial platforms to fund criminal activity. The intel gained from this research initiative shall be shared across the financial industry, policymakers and law enforcement.
“By identifying partners across sectors with common goals and complementary resources, we can make an even greater impact than any of us could do on our own,” said Aaron Karczmer, Chief Risk Officer and EVP, Risk and Platforms, PayPal. “We are excited to partner with the ADL, other non-profits and law enforcement in our fight against hate in all its forms.”
“All of us, including in the private sector, have a critical role to play in fighting the spread of extremism and hate. With this new initiative, we’re setting a new standard for companies to bring their expertise to critical social issues,” said Jonathan Greenblatt, CEO, ADL. “We have a unique opportunity to further understand how hate spreads and develop key insights that will inform the efforts of the financial industry, law enforcement, and our communities in mitigating extremist threats.”
“This innovative partnership between ADL and PayPal encourages us to think outside the box when fighting evil,” said Sindy Benavides, CEO, LULAC. “We hope to see more private and public partnerships such as these to help raise the social awareness of the public to the dangers that exist in plain sight. Attacking these hateful groups’ revenue sources weakens their reach and exposes just how unstable they truly are. The data and research collected from experts will help organizations, like LULAC, inform their strategy to combat evil. We congratulate these organizations and will continue to stand alongside them against hate.”
“I applaud PayPal and the ADL for joining forces to combat hate and extremist movements who seek to utilize financial platforms to bankroll their criminal activities and profit from the spread of racism and bigotry,” said Manhattan District Attorney Cy Vance, Jr. “My office stands ready to assist financial institutions and businesses of all kinds in this urgent fight to stop hate and protect members of historically marginalized communities.”