De-banking

De-banking, more commonly spelled debanking, 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, the closing of bank accounts of sex workers,^[1] and people considered to be politically exposed persons.^[2]

The closure of accounts is generally performed without giving a reason and without the prospect of appeal. De-banking can have severe consequences for individuals, as it cuts them off from many activities in society.