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Australian banks and financial services have been ticked off by the small business ombudsman for discriminating against legitimate adult businesses


Link Here 4th January 2018

asbfeo logoAustralia's Small Business Ombudsman Kate Carnell has gone into bat for Australia's sex industry, slamming the banks for discriminating against legal businesses by withdrawing or failing to provide financial services. Carnell said in a statement:

It's hypocritical that banks do not provide services to the adult industry when businesses are appropriately registered and regulated. Access to banking services is essential for a legitimate business to operate.

Carnell was responding to a recent report by the Eros Association, which found the vast majority of adult industry businesses experienced unfair treatment by financial service providers .

The association estimates there are more than 1000 adults-only businesses in Australia employing around 25,000 people, with the overall industry turning over $2.6 billion annually.

One respondent quoted in the report, the operator of an adult retail and wholesale business, said their merchant facilities were withdrawn after more than 20 years with the same bank.

 

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