Published: October 18, 2020
Euro Pacific Bank has received some negative mention in news stories over the weekend. The stories claim that a relatively few citizens in one country have used their accounts at the Bank to evade taxes and that the Bank’s compliance programs have failed to catch and reject them as clients. Nothing could be further from the truth, as described in our new press statement.
While by law and regulation we are not permitted to discuss specific banking clients with the press and public, such accounts are regularly rejected or closed because our compliance programs and employees are first rate.
We are proud of our successes and our compliance department has grown dramatically over the last 4 years. For instance, our new compliance units ensure that we have robust tools to enhance our first line of defense in the business development, onboarding, and customer services departments.
Despite this recent negative press, the Bank remains fully compliant with all regulations and is very secure in the international banking and business communities. We are also pleased to say that despite the Covid 19 pandemic, which has badly hurt so many individuals and businesses and caused worldwide job insecurity, we remain successful, our accounts are secure, our clients are supportive, and the Bank’s staff remains fully employed and engaged with our clients.
No one likes to be the subject of negative stories but with your continued support, and with the excellent work of our compliance staff and programs, we will continue to ably serve our international clients with their personal and business banking needs.