This clip was taken from a longer video posted on Youtube on March 21st, 2018. The application for the bank account they're discussing, in the name of Invest One Limited, was filed on June 15, 2017. The account was activated on July 06, 2017. They then funded it with a £425 wire.

NY Times Cites Single Unused Account as Evidence of Lax Vetting, Overlooking Extensive KYC Procedures Confirmed by Account Holders

The lone customer of my bank, The Demystification Committee, whom N.Y. Times reporter Matthew Goldstein offered as proof that my bank’s customer vetting process was light and that it was easy to move money offshore anonymously, never even used their Euro Pacific Bank account after initially funding it with a £425.00 deposit.

It took three weeks of rigorous review for the bank to open their account, but following that lengthy process, they never actually used the account. The account developed a negative balance due to the accumulation of monthly account fees and was eventually closed well over a year before the N.Y. Times article was written.

In choosing this example, Goldstein overlooked other customers they interviewed who actually did use their Euro Pacific Bank accounts and who all confirmed how exhaustive our customer vetting process was.

The reason Goldstein chose to quote a customer who never used their Euro Pacific Bank account, rather than any of those who did, is that only someone who never used a Euro Pacific Bank account could possibly think our customer vetting process was light. This was all part of Goldstein’s effort to make an innocent bank look guilty and to legitimize the Atlantis investigation, which ended up finding no evidence of wrongdoing and was a complete failure and waste of time and taxpayer resources.

I found this video on YouTube that shows The Demystification Committee members actually discussing how difficult it was to open an account at Euro Pacific Bank and how surprised and unprepared they were for all the compliance questions the bank asked. They also admitted that Euro Pacific Bank did far more AML (Anti-Money Laundering) and KYC (Know Your Customer) than any of the U.K. banks where they also opened accounts.

So the only customer Matthew Goldstein referenced as evidence that the bank had lax compliance actually proved the bank had strict KYC and AML, yet Goldstein lied in his article, claiming this customer told him that “the bank’s customer vetting was light.” Goldstein is a disgrace to the profession of journalism and should be widely condemned by his peers.