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Discrimination by banks for Sex Workers and Bank Australia’s lifeline

Discrimination by banks for Sex Workers and Bank Australia’s lifeline

Discrimination against sex workers in the banking industry is a serious issue in Australia. Many banks have policies that explicitly exclude sex workers from accessing their services, such as opening bank accounts or obtaining loans. This discrimination can have severe consequences for sex workers, who may be unable to access basic financial services, which can lead to financial instability, poverty, and even homelessness.

There have been cases where sex workers have been denied loans or have had their bank accounts closed without warning simply because they were engaged in sex work. In some cases, banks have cited the “reputational risk” of associating with sex workers as a reason for denying them services.

This discrimination is a clear violation of human rights and is not acceptable. Sex workers are entitled to the same basic rights as any other person, including access to financial services and protections against discrimination.

There are advocacy groups and organizations that are working to address this issue, such as the Scarlet Alliance, an Australian sex worker organization that advocates for the rights of sex workers. It is essential for banks and financial institutions to recognize the human rights of sex workers and ensure that they have access to the same basic financial services as anyone else.

Enter Bank Australia…

Bank Australia is an Australian financial institution that has been changing the way people do banking. The bank is committed to using its resources to create a positive social and environmental impact, as well as to promote transparency and ethical practices in the financial sector.

One of the ways that Bank Australia is changing banking is by offering customers a range of sustainable banking options. The bank has a range of products and services that are designed to support sustainable and ethical businesses, as well as individuals who are looking to make a positive impact on the environment. For example, Bank Australia offers home loans that provide discounts for energy-efficient properties and solar panel installations, as well as a range of credit cards that donate a portion of the transaction fees to environmental causes.

Another way that Bank Australia is changing banking is by offering a range of digital banking services. The bank has invested heavily in digital technology to provide customers with a seamless and convenient banking experience. Customers can manage their accounts online or via the bank’s mobile app, and can also access a range of financial tools and resources to help them manage their money more effectively.

In a statement provided by Bank Australia on 27 May 2020, Bank Australia addressed its policy regarding services for Sex Workers;

‘All customers are treated fairly and undergo the same customer due diligence process whether that be as a private individual or business. We do not discriminate on occupation if the occupation/business is legitimate, is recognised by the government and does not involve anything of a suspicious or criminal nature. Individuals and businesses in the sex industry are assessed on their individual merits, rather than applying blanket decisions based on the industry they belong to.’

Overall, Bank Australia is a bank that is committed to creating positive change in the world. By offering sustainable banking options and digital banking services, the bank is helping to make banking more accessible and inclusive for everyone, while also promoting ethical and sustainable practices in the financial sector.

Empire

Blog by Empire Industry Finance

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