While cancel culture initially took root in social and cultural spaces — through boycotts, public shaming, and social media campaigns — its influence has gradually permeated other sectors, including finance. Debanking is a particularly powerful tool because, in an increasingly digital economy, access to financial services is essential for participation in society. Without access to a bank account, credit, or other financial tools, individuals and organizations can be effectively excluded from basic economic functions, making this tactic materially damaging.
