Debanking

Debanking (sometimes spelled de-banking, and also known within the banking industry as de-risking) is the closure of people's or organizations' bank accounts by banks that perceive the account holders to pose a financial, legal, regulatory, or reputational risk to the bank. Examples of this include the enforcement of anti-corruption and anti–money laundering laws, anti-terrorism efforts, and the closing of bank accounts of sex workers or people violating immigration laws or considered to be politically exposed.

Source: Wikipedia — Debanking (CC BY-SA 4.0)

Debanking

Debanking (sometimes spelled de-banking, and also known within the banking industry as de-risking) is the closure of people's or organizations' bank accounts by banks that perceive the account holders to pose a financial, legal, regulatory, or reputational risk to the bank. Examples of this include the enforcement of anti-corruption and anti–money laundering laws, anti-terrorism efforts, and the closing of bank accounts of sex workers or people violating immigration laws or considered to be politically exposed.

Source: Wikipedia "Debanking" · CC BY-SA 4.0

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