NICOSIA, Cyprus - TelAve -- Worldwide: Established in 2017 by Mark Anderson and Peter Schiff, the Euro Pacific Bank (EPB) is where there are now around 400 Australian nationals, of which 100 are probed as being at high financial risk. The Joint Chiefs of Global Tax Enforcement (J5) group is reportedly probing the bank in Puerto Rico for facilitating tax evasion schemes and money laundering transactions.

The J5 comprises five major tax agencies in the U.S., Canada, U.K., Australia, and the Netherlands. Its probe has triggered reactions from not only the account holders and bank owners but also other people across the globe. The most sizzling one, at present, seems to be at the active forum of OffshoreCorpTalk.com.

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An offshore retiree, Martin Everson, writes, "Anyway, I've been on here saying it for years about EPB but sadly no one listened I bet. I also mentioned that Schiff Gold has been used for money laundering by criminals. I wonder if people will try to remove their money from EPB now."

To this comment, VESTANON as a cashier has replied, "With the global scene, if at all any funds would be received, it might as well be at 30%-45% percent loss margin." This reply indicates that the money with this bank is going to fare a big loss and for some, no money may come back.

As a reliable solution, some people have commented that the Euro Pacific Bank is dead due to which all account holders need to know legal advice. This is because no correspondence bank or card operators will now be willing to work with EPB once this news spreads like fire.

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The discussion also reveals the types of criminals that the bank serviced along with the cause of the probe. The EPB's core client base were Russian cyber criminals wanted by the FBI, scammers, drug dealers, and tax evaders.

As per the discussion on the forum, a leak of the account details of several EPB customers initiated critical after which J5 matched the account holder names against criminal databases around the globe.

Well, such a discussion is an eye-opener for countless people who evade tax or have saved money in a bank that supports multinational criminals!