At Banking Conference, FSC’s Alison Boden Finds Strategic Allies, and A Way Forward

FSC Executive Director Alison Boden may be one step closer to unraveling issues of financial discrimination that face adult businesses and workers. At the annual conference for ACAMS — the Association of Certified Anti-Money Laundering Specialists — Boden spoke with bank officers, anti-trafficking NGOs, and government officials about the need to secure financial access for those in the sex industry.

To her surprise, many agreed.

“While some in the banking industry no doubt have moral objections to our industry, most were aware that existing detection systems for money laundering and sex trafficking unfairly target legal businesses and consensual sex workers,” says Boden. “But no one on their side has made it a priority, so it’s incumbent on us to make it one. It’s unfair, but if we’re going to stop discrimination, we have to take the lead. We have to be part of these discussions. There's a willingness to change and we have the opportunity to collaborate on the solution.”

At panels, keynotes and in private conversation, participants acknowledged the need to separate sex work from sex trafficking. In response to a question from Boden, newly-appointed FinCEN Director Andrea Gacki said that she will prioritize protecting vulnerable populations from de-banking — now a public statement on the record.

“This was an incredibly productive conference, and we need to be at more of these,” says Boden. “Not just attending the event, but on panels, speaking and presenting information and research that will drive change. Over and over again, I had organizations approach me to offer assistance, or ask us for data, or to otherwise understand what was happening. We need to be in the room to combat the stereotypes, misinformation and stigma. We have a long road ahead, but I’m confident that with work, we can reduce the financial discrimination and instability that plagues adult businesses.”