2 ms·
> moral or political positions It's legal and fraud considerations. You have a toxic mix of fraud risks, money laundering risks, and the potential risk of acc
by alephnerd 2y ago
> moral or political positions
It's legal and fraud considerations.
You have a toxic mix of fraud risks, money laundering risks, and the potential risk of accidently enabling legally radioactive CSAM when supporting pornography.
This is way too much risk to bank an industry that is smaller than most other sectors.
In the Wikileaks case, the lack of redaction meant Wikileaks and its enablers could face multiple national security and espionage related charges. That is too much risk.
At the end of the day, if you are a payment processor you will have to assume liability for abetting your customers actions. And if you do not moderate well enough, as an executive your head is personally on the line for plenty of civil and even criminal charges.