Credit Card Giants Criticized for Alleged Complicity in Illegal Online Activities

Mastercard and Visa are under scrutiny after allegations they failed to prevent their payment networks from being used to process child sexual exploitation material and sex trafficking-related transactions on OnlyFans. This came after the whistleblower filed a complaint with US authorities.

The whistleblower, a senior compliance specialist, claims that card companies have been aware of such illegal activities since at least 2021. Despite this, the companies allegedly chose to ignore the illegal revenues processed through their systems and called on regulatory authorities to take action.

Mastercard and Visa deny allegations and emphasize compliance efforts; A Visa spokesperson stated that institutions and merchants that do not comply with compliance requirements will be disconnected from their networks. The relevant federal agencies have not yet commented on the actions taken following the complaint.

(With input from institutions.)