Melon Farmers Unrated

Australia News


2023: Jan-March

 2008   2009   2010   2011   2012   2013   2014   2015   2016   2017   2018   2019   2020   2021   2022   2023   Latest 

 

Bankers screwing sex workers...

Moralist banks in Australia close accounts of businesses they don't like


Link Here22nd January 2023
Arbitrary screwing of sole traders and small businesses by financial institutions is a longstanding problem in AUstralia.

Now Australia's banks have doubled down on the reasons they believe they should not be required to tell customers or potential customers why they can't have basic banking services. In most cases this is because the bank doesn't approve of several types of industry seemingly on the basis or morality.

According to the Australian Small Business and Family Enterprise Ombudsman, such businesses include cryptocurrency traders, brothels, individual sex workers and sex shops, tattoo parlours and precious metal traders. Cases have also been reported among firearms dealers, vaping retailers, mining companies and the agriculture and farming sector.

A typical example was high-profile Sydney escort, Samantha X, who last year reported her long-standing account with ING had been shut down. When she asked for an explanation, she said she was told: We can't tell you why sorry, it is a business decision.

The ongoing issue was highlighted a year ago by independent reviewer Mike Callaghan, who was commissioned by the Australian Banking Association (ABA) to conduct the three-yearly review of the banking industry's code of conduct. Callaghan rebuked the banks for what he called blanket denial of services seemingly with regard to the customer's occupation on the basis that they are concerned the AUSTRAC anti-money laundering provisions may come into play.

The ABA's blunt response appears to be: No, we won't agree to change our practices, or tell businesses or individuals why they have had financial services denied or withdrawn, until we are forced to do so.


 2008   2009   2010   2011   2012   2013   2014   2015   2016   2017   2018   2019   2020   2021   2022   2023   Latest 

melonfarmers icon

Home

Index

Links

Email

Shop
 


US

World

Media

Nutters

Liberty
 

Film Cuts

Cutting Edge

Info

Sex News

Sex+Shopping
 


US

Americas

World

Campaigns
 

UK

W Europe

E Europe

Africa
 

Middle East

South Asia

Asia Pacific

Australia
 


Adult Store Reviews

Adult DVD & VoD

Adult Online Stores

New Releases/Offers

Latest Reviews

FAQ: Porn Legality

Sex Shops List

Lap Dancing List

Satellite X List

Sex Machines List

John Thomas Toys