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Bank Secrecy Act/Anti-Money Laundering

SBA Awards $20 Million Contract to Mercadien JV for Risk Mgmt. of 504 Loans

The Mercadien Group is pleased to announce that its affiliate company, Kingstonville-Mercadien JV, LLC, has been awarded a five-year contract with the U.S. Small Business Administration (SBA) to provide risk-based review and risk oversight support services for the Certified Development Company (CDC)/504 Loan Program, administered through the Offices of Capital Access and Credit Risk Management.…

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Frank Pina Receives Distinguished Achievement Award from Association of Certified Fraud Examiners

The Mercadien Group congratulates managing director and co-chair of its Forensic & Litigation Support Services Group, Mr. Frank Pina, CPA, CFF, CFE, CGMA, who was bestowed the Distinguished Achievement Award for meritorious service in the detection and deterrence of fraud by the Association of Certified Fraud Examiners’ (ACFE) Board of Regents at the 26th Annual…

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A World of Innovation

This article is featured in the Spring 2018 issue of NJ Banker Magazine. Stop and think about this: We keep hearing about innovation in just about every facet of our life. Everywhere you look or turn, the word innovation seems to be there. It’s an agenda topic in most board rooms and is causing some level…

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Prevent Fraud With Stronger Consumer Profiling

When we hear the word fraud, our own personal ideas and experiences about it usually come to mind. An official definition of fraud as published by the Institute of Internal Auditors in its International Professional Practices Framework, is “… any illegal act characterized by deceit, concealment, or violation of trust. These acts are not dependent…

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Bitcoin in Brief: The Mystery Unraveled

Many of us have overheard or joined discussions with friends and colleagues regarding bitcoin.  Perhaps you have skimmed articles discussing its potential as a commodity or its future demise as a widely-accepted form of digital currency.  Nevertheless, bitcoin continues to gain supporters and detractors based upon the perceived benefits and risks associated with its use.…

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Highlights of the FFIEC BSA/AML Manual Update

The Federal Financial Institutions Examination Council (FFIEC) recently made significant changes throughout more than a dozen sections of the Bank Secrecy Act and Anti-Money Laundering (BSA/AML) Manual, the first update in four years. All banks and third parties with relationships with issuing banks should take note of the update, which emphasizes the importance for such…

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The Buzz About Bitcoins

With the latest buzz about bitcoins – a decentralized, digital currency just a few years old – it is extremely important for the banking industry to understand their use and impact. A bitcoin is a form of virtual currency that allows payment through a peer-to-peer network. Bitcoins are not tangible like cash and cannot be…

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Salvatore Zerilli on Navigating the Maze of Bank Regulations

Ever wonder why the name of your bank has changed eight times since you opened an account? With all the bank mergers taking place, it can be hard to remember what your bank is called. By the time you go through a checkbook, it might have merged twice. The bankers may not necessarily like this…

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