Common
Debanking
Forced closure of a bank account by a bank
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 those considered to be politically exposed. Debanking has been criticized for limited legal clarity and financial exclusion. It can have severe consequences for individuals, as it displaces them from accessing a range of activities within society.
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