“We do not prohibit people in this industry from having personal bank accounts with us,” she added.
One of the risks associated with sex work is money laundering and human trafficking, where victims, mostly women, are forced or coerced to engage in commercial sex acts.
Many banks and other financial platforms avoid doing business with these industries altogether.
“That is the problem we have — trying to recognize potential human trafficking that we would have to report.”Beyond banks, many financial services apps have blanket bans, which state they won’t process any transactions related to adult content or services.
CashApp — which, like Square, is owned by Block — lists “selling adult content and services” on its “not allowed” list.
Persons:
Trish Wexler, Chase, ”, —
Organizations:
Treasury, PayPal, Block
Locations:
OnlyFans