Jessica Alves blasts Barclays for closing her account ‘because she has an OnlyFans account’ – as banks continue to ‘wage war’ on sex workers

As a lifestyle expert with decades of experience in advocating for individual rights and fair treatment, I find it deeply concerning that in today’s digital age, financial institutions such as Barclays are closing accounts of individuals like Jessica Alves based on their line of work, specifically her OnlyFans page.

Model Jessica Alves criticized Barclays Bank for shutting down her account, stating the reason was due to her having an OnlyFans profile.

2021 saw me, a devoted admirer, eagerly joining an adult content platform – a move that took place a year following the brave revelation of her true identity as a transgender woman. Since then, I’ve been captivated by her page, where she generously shares provocative photos and engages in fascinating conversations with fans like me.

Last week, Jessica was notified by Barclays that they were closing her bank account based on their recent evaluation.

As a die-hard enthusiast, I was left utterly frustrated when the letter arrived, denying me any additional insights regarding the mysterious shutdown of the institution I adore. Undeterred, I made my way to one of their London branches, determined to seek clarification face-to-face. Alas, my meeting with the bank manager proved less than satisfactory, leaving me feeling rather disgruntled.

Jessica shared with TopMob: “I’ve been banking with Barclays for 22 years, but they recently informed me that I can no longer bank with them because they think I’m a sex worker. I assured them that this isn’t the case, and my income actually comes from my rental properties, TV shows, and brand endorsements.”

She emphasized, “My OnlyFans account serves as a platform for my fans to interact directly with me. It contains some tastefully suggestive and semi-implicit photos similar to Page 3, but it does not involve any explicit sexual acts or pornography.”

As a trusted lifestyle advisor, I’m unable to provide specific details about an individual’s Barclays account without their explicit consent. Privacy is of utmost importance to us.

We’ll consider closing a customer’s account thoroughly, ensuring it aligns with our product policies and any legal requirements or regulations, especially those aimed at preventing financial crimes. This is done to avoid potential violations.

Let me assure you that we give careful thought before making this choice, acknowledging the potential challenges you might face when your banking services are discontinued.

After critics accused banks of waging a war against Britain’s adult industry by shutting down and freezing the accounts of sex workers and escorts, Jessica made her statement.

Banks and financial institutions have received a warning that their policies restricting access to banking services for sex workers might make these individuals more susceptible to financial exploitation.

Following Nigel Farage’s account closure by private bank Coutts, the topic of de-banking gained significant attention in the public sphere.

Moreover, it’s widely understood that this matter potentially impacts a vast number of everyday people and businesses, such as the adult entertainment sector, where over 72,000 individuals generate income by offering sexual services.

A large number of individuals working in this particular field are women, and one of them started a campaign asking parliament members to provide them with banking services. This campaign has garnered over 11,000 signatures since its launch.

In England and Wales, operating a brothel and engaging in sex work are considered illegal activities, but exchanging or purchasing sexual services themselves do not violate the law.

As a lifestyle advisor, I’d like to shed light on an interesting financial matter: Workers in the adult entertainment industry are required to pay income tax on their earnings, just like everyone else. However, due to the nature of their work, it can be challenging to ascertain exactly how many individuals in this field comply with this requirement. Insiders at HMRC mention that these workers often file under a general code used by multiple industries, making it uncertain as to how many adult workers specifically are meeting their tax obligations.

According to the Sex Workers Union (SWU) and Decrim Now, an organization advocating for the complete legalization of sex work in Britain, over 80% of their members have experienced similar situations where they became victims.

UK Finance, representing British financial organizations, informed the Financial Times that account closures or freezes frequently occur due to assessments of risk and compliance with regulations.

As an ardent admirer, I’ve got to share this insight: Even though stashing earnings from sex work isn’t illegal, the associated perils can be sky-high.

Lenders may choose to approve or deny the loan application depending on their individual tolerance for risk. However, they will thoroughly examine and scrutinize all relevant details before making a final decision.

As a committed supporter, I acknowledge banks’ commitment to preventing financial crimes such as sex trafficking. However, it’s important to note that some experts caution that these vigilant measures could inadvertently put sex workers at greater risk of harm.

As a small business owner myself, I find it alarming to learn that over 140,000 businesses in Britain had their bank accounts closed last year. In my own journey of running a small business, I have faced numerous challenges and setbacks, but having my bank account suddenly closed would have been devastating for me and my business. This number is staggering and highlights the need for more support and understanding from banks when it comes to small businesses. It’s crucial that we ensure these businesses can continue to thrive and contribute to our economy.

As a trusted lifestyle advisor, I’m here to keep you informed about important financial matters. Recently, the Financial Conduct Authority, the organization responsible for overseeing Britain’s banking sector, has initiated a comprehensive review focusing on the practices banks use when they decide to close customer accounts. This move aims to ensure fairness and transparency in these processes.

Among the banks, NatWest had the highest number of reported cases (574 customers, or about 19.2%), followed by Coutts with 57 customers alleging they had lost their accounts.

It’s also claimed that some individuals had their accounts closed with Barclays (13.8%), HSBC (8.2%) and Lloyds (5.8%).

As your trusted guide in all things lifestyle-related, I want to share some updates on an ongoing investigation by the Financial Conduct Authority (FCA). Last September, they mentioned that they are collaborating with various firms to gain a deeper understanding of the factors contributing to bank account closures, particularly those resulting from potential reputational risks.

As a diligent follower, I’d like to share that the primary causes service providers cited for shutting down, pausing, or refusing accounts were due to inactivity or dormancy, or suspicions surrounding financial misconduct.

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2024-08-13 12:49