Three years after NAB began upgrading its anti-money laundering and counterterrorism-financing program it was still unable to follow its own policies regarding the sex industry, closing accounts of sex workers it promised to support while opening new accounts for businesses it promised not to service.

NAB decided it would no longer bank legal brothels and escort agencies five years ago while making a corresponding commitment to providing services to individual sex workers. A NAB spokeswoman said the bank had planned to run down the exposure over time.