PayPal Holdings is going to investigate the base source of financial funding to the extremist and hate movements in the United States. With the partnership with Anti-Defamation League (ADL), a non-profit organization they figured out how the extremist and hatred groups take advantage of the financial platforms that are currently working in the USA to fund their criminal activities.
Throughout the investigation, the ADL will deeply monitor the transaction and focus on revealing the financial flows that supporting the white supremacists and organizations involved in anti-government activities.
Moreover, they observe the networks spreading and benefiting from Islamophobia, racism, anti-Semitism, anti-immigrant, anti-Black, anti-Hispanic, and anti-Asian bigotry.
PayPal stated that the information extracted during the whole process will be shared with Policymakers, law enforcement agencies, and relevant organizations in the financial industry.
San Jose, California-based company has developed advanced systems over the past years. It helps to prevent from illegal activities flows through its platform. Karczmer was quite optimistic about its impact on society by sharing some of the capabilities.
Aaron Karczmer, PayPal’s chief risk officer and executive vice president, risk and platforms said that “We’re hoping to have an impact on fighting hatred and extremism, which sadly seems to be surging around the world. As the son of a Holocaust survivor, I know all too well the real-world impact that comes from hatred and extremist groups.”
In the Financial year 2020, PayPal focused more on researching the payment system used in illegal firearms with the help of criminologists and academics.
Furthermore, they partner with non-profit group Polaris to fight human trafficking through a joint Financial Intelligence Unit. Over the last few years, the company has also been taking steps to fight with businesses peddling extremism that were attempting to use its platforms.