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Saturday, November 27, 2021

The Netherlands. Banks refuse prostitutes to open company accounts

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In the Netherlands, banks do not want to open company accounts for prostitutes. Financial institutions are concerned about, among other things, money laundering and treat prostitution as a high-risk industry. Provision of sexual services is legal in the country.

Dutch banks treat prostitution as a high-risk industry, according to research from the Pointer investigative journalism platform.

The Netherlands. Banks refuse prostitutes to open company accounts

Of the 14 banks that offer a corporate account in the Netherlands, only the online Knab bank is dedicated to the lightweight sector and only under certain conditions.

The sex worker must be self-employed, at least 21 years old and in possession of an EU passport or residence permit.

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The reasons for refusals by other banks vary. “There is an increased risk of sexual abuse in the sex industry,” says ASN Bank.

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On the other hand, the largest banks, Rabobank, ING and ABN Amro, refer to the act on counteracting money laundering and financing of terrorism.

According to the Prostitution Information Center in Amsterdam, prostitutes also have problems obtaining mortgage loans and insurance.

Main photo source: Shutterstock



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