PayPal Holdings is working with the non-profit Anti-Defamation League (ADL) to investigate how extremist and hate groups in the U.S. use financial platforms to fund their activities.
The initiative, led by the ADL Centre for Extremism, will focus on detecting and disrupting the financial flows that support white supremacists and other anti-government organizations.
It will also address networks that are spreading and profiting from anti-Semitism, Islamophobia, racism, anti-immigrant, anti-Black, anti-Hispanic and anti-Asian bigotry.
The information collected in the course of the subsequent investigation will be shared with other financial industry companies, law enforcement agencies and policymakers, PayPal said.
In 2020, PayPal worked with criminologists and academics to explore the payment channels used in the illicit firearms trade and has partnerships with the non-profit group Polaris to eradicate human trafficking through a joint Financial Intelligence Unit.
In recent years, PayPal has also cracked down on companies that focused on extremism and tried to use its payment channel.
PayPal and ADL will also work with other civil rights organizations such as the League of United Latin American Citizens.
For more information, read the original story in Reuters.