Satabank victims have embarked on a project to explain the problems they are going through to retrieve their money to millions of European citizens and foreign investors.

In a statement on Tuesday evening, the victims said they are working on an advertising e-mail and social marketing campaigns to generate an average of 50,000 unique visits and up to 5 million unique users.

Accounts at Satabank, a small international bank, were frozen by the Malta Financial Services Authority last month, with EY appointed to administer the bank’s assets in “the best interests of depositors”.

The move had come after a joint inspection and audit by the MFSA and Financial Intelligence Analysis Unit had found shortcomings in the bank’s anti-money laundering procedures.

Depositors have been unable to access their own funds.

In the statement, the ban depositors said have managed to target users who were interested in transferring their business to Malta over the past 12 months.

Their goal was to inform these people of Satabank’s history and the “shameful” management of the situation imposed by the MFSA on EY.

The campaign, they said, would end once Satabank unlocked all company accounts.