Business News

Pacific islands are being ‘debanked’. What does it mean – and why are Australia, NZ and the US concerned?

Written by Louis de Koker, Professor of Law, La Trobe University

The withdrawal of major banks from Pacific islands poses significant socio-economic risks to the region, prompting intervention by Australia, the US and New Zealand.

The so-called debanking of the Pacific – when banks close or restrict accounts because they believe customers pose regulatory, legal, financial or...

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