WorkFusion Names David Caruso Vice President of Financial Crime Compliance

Caruso's 25 years of experience building anti-money laundering and sanctions compliance programs is a seamless fit with WorkFusion. The company's AI agents help financial institutions mitigate the risk of financial crime

NEW YORK, November 4, 2024 /PRNewswire/ — 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 veteran of the financial crime risk and compliance industry, Caruso brings his extensive expertise in anti-money laundering (AML) and sanctions compliance programs to WorkFusion's mission to help financial institutions combat financial crime and transform compliance programs in the face of the to support increasing regulatory pressure.

Caruso joins WorkFusion at a critical time. Government agencies, including the U.S. Department of Treasury's Financial Crimes Enforcement Network (FinCEN), the Office of the Comptroller of the Currency (OCC), the Department of Justice, and the Federal Reserve Board, are intensifying anti-money laundering enforcement with increased scrutiny, penalties, and fines.

“David’s leadership skills and extensive financial crime compliance expertise make him an invaluable addition to the WorkFusion team,” he said Wendy PettyChief Revenue Officer of WorkFusion. “His first-hand experience will be instrumental in understanding our clients’ needs as they navigate increasingly sophisticated financial crime schemes and regulatory pressures.”

David Carusoa seasoned compliance professional for over 25 years and a former U.S. Secret Service special agent, has built AML and sanctions compliance programs at organizations in the U.S. and internationally, including JP Morgan, Riggs Bank, Key Bank and Union Bank of CaliforniaWachovia, Washington Mutual and HSBC. During his time at Riggs Bank, he played a key role in uncovering international corruption schemes that set new standards for regulatory compliance and influenced the enforcement actions of global regulators. Caruso founded The Dominion Advisory Group, a consulting firm that advises banks on enforcement efforts. Additionally, his RegTech expertise includes his role as Chief Client Officer of TranparINT, a RegTech machine learning company that led to a successful acquisition by Steele Compliance.

“It’s an exciting time to join WorkFusion as we advance the future of financial crime compliance. Financial institutions need new ways to manage their compliance risks more effectively,” he added David Caruso. “Throughout my career I have worked on financial crime compliance, from leading compliance teams at major banks to innovating in the RegTech space. This has given me a deep understanding of our customers’ unique daily challenges. I’m looking forward to what lies ahead.”

WorkFusion's AI agents enable banks and financial institutions to address financial crime compliance head-on by quickly identifying unusual patterns and behaviors that may indicate suspicious activity, including money laundering and sanctions risks.

About WorkFusion
WorkFusion is a pioneer in AI agents for Financial Crimes Compliance (FCC). Its AI Agents are purpose-built personnel who serve compliance teams in Level 1 Analyst roles for Anti-Money Laundering (AML), Unwanted Media Monitoring, Sanctions Checks, Customer Onboarding, Know Your Customer (KYC), and Transaction Monitoring (TM ) strengthen. and customer service. WorkFusion's AI solutions are technology controls that mitigate risk, solve talent challenges, increase workforce capacity, save money, improve employee and customer experience, and improve compliance posture. For more information, visit workfusion.com.

Media contact:

Jessica Cassady

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SOURCE WorkFusion