WorkFusion, a pioneer in AI agents for financial crime compliance, today announced the appointment of David Caruso as Vice President of Financial Crime Compliance. A Financial Crime Risk and Compliance industry veteran, Caruso’s in-depth expertise with anti-money laundering (AML) and sanctions compliance programs complements WorkFusion’s mission to help financial institutions combat financial crime and transform compliance programs, amid increasing regulatory pressures.
Caruso joins WorkFusion at a critical time. Government agencies, including the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), the Office of the Comptroller of the Currency (OCC), the Justice Department, and the Federal Reserve Board are intensifying AML enforcement with increased scrutiny, penalties, and fines.
“David’s leadership and deep expertise in financial crime compliance make him an invaluable addition to the WorkFusion team,” said Wendy Petty, Chief Revenue Officer of WorkFusion. “His first-hand experience will be instrumental in understanding our customers’ needs as they navigate increasingly sophisticated financial crime schemes and regulatory pressures.”
David Caruso, a seasoned compliance expert for over 25 years and former Special Agent with the U.S. Secret Service, has built AML and sanctions compliance programs at organizations across the U.S. and internationally, including JP Morgan, Riggs Bank, Key Bank, Union Bank of California, Wachovia, Washington Mutual, and HSBC. He played a key role while at Riggs Bank, uncovering international corruption schemes that set new standards in regulatory compliance and influencing enforcement actions by global regulatory bodies. Caruso founded The Dominion Advisory Group, a consulting firm guiding banks through regulatory enforcement actions. Additionally, his RegTech expertise includes his role as Chief Client Officer of TranparINT, a machine learning RegTech firm that led to a successful acquisition by Steele Compliance.
“It’s an exciting time to join WorkFusion as we drive the future of financial crime compliance. Financial institutions need new ways to manage their compliance risks more effectively,” added David Caruso. “Having spent my career in financial crime compliance, from leading compliance teams at major banks to innovating in RegTech, I have developed a deep understanding of our clients’ unique daily challenges. I look forward to what’s ahead.”
WorkFusion’s AI Agents empower banks and financial institutions to address financial crime compliance head-on by swiftly detecting unusual patterns and behaviors that may indicate suspicious activities, including money laundering and sanctions risks.
