Canadian adult content creators are sounding the alarm; claiming multiple banks have frozen or closed their accounts after discovering they have ties to online sex work. In one case, a user making money through the website OnlyFans posted a letter on Twitter from CIBC alerting her they are closing her accounts.
The website is a popular social media platform that allows content creators to sell photos, videos, and other content to fans. More tweets from online adult content creators claim they experienced similar issues. One user claimed her account with TD Canada Trust was closed because of her involvement with the adult industry, adding she may never get those funds back.
However, experts say this is a long, deep-rooted issue with financial institutions. People like exotic dancers and drag performers also often face barriers when trying to deposit a large amount of small bills. Sex worker advocates say the Canadian government passed the Protection of Communities and Exploited Persons Act in which is impacting workers across the sex industry, not just victims of trafficking. She adds the definition of human trafficking also continues to be expanded and can sometimes target sex workers choosing to offer services online.
If sex workers attempt to fight banks for access to their accounts, they can also run into issues. Advocates are calling for sex work to be decriminalized in Canada so workers can have access to banks, employment standards, occupational health and safety protections, maternity leave and more.
Scotiabank accepts funds from various subscription platforms, including OnlyFans, but does review each scenario independently. We have inclusive banking policies, and clear processes where clients can have their concerns reviewed if they do not agree with the decision.
