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OnlyFans claimed it was the banks, not the payment processors, who were the problem. Specifically, BNY Mellon, acting in an intermediary role between OnlyFans'
by rattray 5y ago
OnlyFans claimed it was the banks, not the payment processors, who were the problem.
Specifically, BNY Mellon, acting in an intermediary role between OnlyFans' banks and creators' banks, allegedly blocked all payouts to creators.
- A4ET8a8uTh0 5y agoI believe it. For a smaller company, it will take one analyst stumbling over something problematic that may trigger an investigation ( think SAR ). If the issue is bad enough and customer does not have clout to back it, bank might derisk. The problem is.. it is not exactly standardized as each bank does their own thing thanks to BSA rules.
- ashtonkem 5y agoAnd it’s not exactly out of the realm of possibility that some analyst somewhere just really dislikes pornography. It’s not like there isn’t a robust anti-porn movement purposefully using “think of the children” as cover.