OnlyFans Fined by UK Media Regulator
OnlyFans, a popular content subscription service, has been fined $1.4 million by Britain's media regulator for not adequately verifying the age of its users and for hosting illegal content. The regulatory body's investigation highlighted significant lapses in OnlyFans' systems designed to prevent underage access, raising critical concerns about the platform's content moderation practices.
Allegations of Illegal Content
The fine also relates to allegations that OnlyFans hosted illegal material on its platform. This accusation points to potential gaps in the operational oversight of the content shared on the site, which primarily features adult content creators offering subscriptions to their posts.
Visa and Mastercard Allegedly Informed of Illicit Transactions
Further complicating the situation, a forthcoming report in 2025, based on a whistleblower's claims, suggests that major financial companies Visa and Mastercard were aware of illicit transactions linked to OnlyFans as early as 2021. Despite this awareness, no decisive action was reportedly taken by these financial giants to address the issue, indicating a possible lapse in financial and operational oversight by the payment processors.
Implications for Financial Oversight
This revelation could cast a shadow over the operational practices of both OnlyFans and the involved financial institutions. The lack of timely action from Visa and Mastercard, as alleged, could implicate them in the ongoing issues concerning financial transactions on the platform.
