Cybercrime Soars in Occupied Palestinian Territory’s Finance Industry: Report Reveals Alarming Extent of Cyber Attacks

Genocide Unfolds as Cybercrime Epidemic Spreads

As the world watches in horror as a genocide unfolds in the Occupied Palestinian Territories, a new report has shed light on the alarming extent of cybercrime in the region’s finance industry. The Don’t Buy Into Occupation coalition, comprising human rights organizations including the International Federation for Human Rights (FIDH), has published a shocking exposé revealing that hundreds of European financial institutions have invested billions of dollars in companies directly supporting Israeli settlements.

Staggering Figures: Financial Ties to Settlement Construction and Surveillance

According to the report, a staggering 776 European financial institutions had financial ties with 51 businesses actively involved in settlement construction, service provision, and surveillance between January 2020 and August 2023. The total investment in these companies amounted to a whopping $164.2 billion in loans and underwriting, while European investors held $144.7 billion in shares and bonds.

Grave Human Rights Concerns Raised

The report highlights the grave human rights concerns raised by these investments, including the demolition of Palestinian homes and the perpetuation of Israel’s illegal occupation, annexation, and colonization of Palestine. Dr. Susan Power, Head of Legal Research and Advocacy for Al-Haq, FIDH’s Palestinian member organization, warned that “the failure to hold corporations and financial institutions accountable for complicity in international crimes is fuelling the continuing and deteriorating situation on the ground.”

Top 10 Creditors: BNP Paribas, HSBC, Deutsche Bank, and More

The top 10 creditors alone provided $116.55 billion to listed businesses, with:

• BNP Paribas
• HSBC
• Deutsche Bank
• Société Générale
• KfW
• Barclays
• Crédit Agricole
• Santander
• ING Group
• UniCredit

Urgent Call for Action: Hold Financial Institutions Accountable

Antoine Madelin, FIDH’s Advocacy Director, emphasized that “European financial institutions have a big responsibility in the grave violations taking place in the Occupied Territories. All these actors have an obligation to ensure that their activities do not contribute to the perpetuation and expansion of settlements that are illegal under international humanitarian law.”

Report Urges Exclusion of Settlement-Related Companies

The report urges financial institutions to adopt investment policies that exclude companies involved in settlement activity, citing the devastating impact on Palestinians’ human rights and dignity. As cybercrime continues to plague the finance industry in the Occupied Palestinian Territory, it is imperative that global actors take action to hold these institutions accountable for their complicity in perpetuating a grave injustice.

Conclusion

The report’s findings serve as a stark reminder of the urgent need for global action to address the devastating impact of cybercrime and financial support for Israeli settlements on Palestinians’ human rights. It is crucial that financial institutions prioritize accountability, transparency, and ethical investment practices to prevent further complicity in international crimes.