MERCADIEN CERTIFIED PUBLIC ACCOUNTANTS
Contact
BSA/AML

The regulatory requirements in regards to the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) have greatly expanded. Federal and state regulators have placed great scrutiny on financial institutions' BSA/AML compliance programs. Our professionals are Certified Anti-Money Laundering Specialists (CAMS) and receive continuous training to remain up to date on the current focus and emphasis of regulators as well as any regulatory changes affecting your institution. Mercadien offers a variety of services in this area including:

Independent Review
One of the "four pillars" of an effective BSA/AML compliance program is an independent review. Our independent review is risk-based and tailored specifically to your financial institution. Our audit program follows closely the Federal Financial Institutions Examination Council (FFIEC) BSA/AML Manual that meets federal and state regulators' expectations. The core procedures of the review encompass your financial institution's Office of Foreign Asset Control (OFAC) program, Customer Identification Program (CIP), enhanced due diligence of deposit accounts, and independent transactional testing, among others. Expanded procedures regarding international correspondent banking, trade finance activities, and the like will be dependent on the products and services offered by your financial institution.

Software Validation
Many financial institutions have implemented software to assist in the execution of the BSA/AML program. This software typically includes transaction monitoring, account profiling, account risk rating, OFAC scanning, and CTR/SAR reporting. The trap into which many financial institutions fall is not performing validation procedures of the interfaced data to ensure that the software is properly capturing and analyzing the data. Lack of validation can cause your financial institution to inadvertently fail to file a CTR or SAR, as well as miss a potential individual listed on OFAC's specially designated national's list. Our professionals can perform software validation procedures for your institution either during an independent review or as a separate engagement.

Transactional Look-Back Reviews
Your financial institution may be asked to perform a review of prior transactions as part of a look-back review. Transactions need to be analyzed for potentially suspicious/suspect activity in order to determine if a SAR is required. Our professionals possess the knowledge to work with your financial institution to identify such patterns. The engagement will be customized to meet the specific needs of your institution.
In the News
Banking Clips

About.com (May 2010) "Successful Small Business Strategies During the Recession"

Mercer Business  (Apr. 2010) "The Science of Regulatory Compliance"

Video WZBN  (Mar. 23, 2010) "Debit Cards"

ACAMS  (Mar. 2010) "Member Spotlight"

Video WZBN  (Feb. 9, 2010) "Mortgage Forms"

Sal Zerilli Principal Announcement  (Dec. 2009) "The Mercadien Group Welcomes Sal Zerilli"


Other Mercadien Clips

AOL DailyFinance (Jun. 7, 2010)
"The Mercadien Group Welcomes New Principal and Managing Director, Gary B. Rosen, CPA, CFE, CFF"

VideoWZBN TV−25 (Jun. 1, 2010)
"Non Profits and Tax Exemption"
For prior video clips, click here.

Processor (May 21, 2010) "Control Your Personnel Costs"

About.com (May 2010) "Successful Small Business Strategies During the Recession"

The Times (May 2, 2010) "The Numbers Lady"

Mercer Business (Apr. 2010) "Ask a Busy Person - Lisa Thouin"

NJBIZ (Apr. 19, 2010) "As The Ink Dries You Can Still Lose The Deal"

Video WZBN TV−25 (Apr. 16, 2010) "Gov. Christie at Mercadien on Cuts"

USA Today (Apr. 6, 2010) "Tax Breaks for Enegery Savers Still Going Strong"

North Jersey (Mar. 11, 2010) "Business Owners Need Flexible Estate Plans"

Town Topics (Mar. 10, 2010) "YWCA’s ‘Tribute to Women 2010’ Cites Talent, Energy, Achievement"

Compliance Week (Feb. 1, 2010) "Mercadien Technologies Expands Rollout of MCare"

Forbes (Jan. 27, 2010) "Mercadien Technologies Expands Rollout of MCare"

North Jersey (Jan. 19, 2010) "Investors in 1990s stock swindle involving Brennan to get $5 million relief"

Mercer Business (Jan. 2010) "Planning for Success"

Too Much (Jan. 4, 2010) "A Lost Decade's Big Winners"

USA Today (Dec. 29, 2009) "Estate Tax Set to Expire Thursday"

Philadelphia Inquirer  (Dec. 23, 2009) "2010 Will Likely Be A Good Year to Die Rich"

The Times  (Dec. 22, 2009) "Committee Striving to Bring New Business to Bordentown"

The Faster Times  (Dec. 17, 2009) "To Roth IRA or Not?"

VideoFox Business News  (Dec. 11, 2009) "Tax Planning Tips"

Forbes (Dec. 3, 2009) "You Can Still Cut Your 2009 Tax Bill"

NJ League of Municipalities (Dec. 2009) "What to Expect When the Forensic Accountant Arrives"

Mercer Business (Dec. 2009) "How to Manage in Challenging Times"

NJ Business (Dec. 2009) "Tax Treatments"

Philadelphia Inquirer (Nov. 25, 2009) "Another Audit of Camden Makes 50 Recommendations for Change"

Mercer Business (November 2009) "Outsourcing Your IT: Improve Efficiency & Security"

NJSCPA (Nov. & Dec. 2009) "Volunteer Spotlight: Lisa Thouin"

The Times (Sept. 27, 2009) "Not Another ‘Old Boy’"

The Times (Sept. 18, 2009) "City Council Balks at Hiring Administrator"

Press Releases

Ritter Appointed to Robert Wood Johnson Healthcare Corp. Hamilton Board of Directors  (Dec. 30, 2009)

Mercadien Donates Hundreds of Toys for Children in Need  (Dec. 21, 2009)

The Mercadien Group Launches New Practice Providing Internal Audit Servcies to Community Banks (Dec. 1, 2009)

New Mercer Regional Chamber of Commerce Chairman (October 2009)

Mercadien Asset Management News & Events

Archived News & Events

 
Mercadien: P.O Box 7648, Princeton, NJ 08543-7648    609-689-9700
solutions@mercadien.com Privacy Policy Professional Service Entities Manufacturing Industry Services Logistics and Distribution Industry Services Innovative Technology and Emerging Growth Services Automotive Dealer Services Governmental Services Nonprofit Services Assurance Services Estate & Trust Planning Tax Planning & Preparation Insolvency & Reorganization Business Life Cycle Planning Business & Management Consulting ServicesLitigation Support Services Decision to Outsource Press Room Partners Services Bankruptcy & Reorganization Debtor Restructuring Strategic Planning Succession Planning Mergers & Acquisitions Sports & Entertainment Consulting Services Long Term Care Consulting Services Entrepreneurial Consulting ServicesGeneral Business Management Services Business Valuation