adam791

Hygiene hypothesis

Check out Sam Harris’s podcast “The Worst Epidemic”. It’s hard to listen to, but gives another perspective about this issue. Also it has some ideas about where encryption is perhaps more benign (e.g. WhatsApp) and where its introduction would increase exploitation of children (e.g. Facebook Messenger).

Banks and other financial institutions are all about minimizing risk. If there is a risk that an account enables sex trafficking or money laundering there may be an internal policy to close the account as well as an obligation under anti money laundering laws to report it to the government. It comes down to the risk appetite of the bank. The bank stands to be fined if it is found not to have reported on suspicious activity and there is reputational risk as well. This is the reason a lot of banks would choose to de-risk and close the accounts.