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

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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