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Understanding Beneficial Ownership Key to Catching Money Launderers, Dominion’s Caruso Says
By Kieran Beer
printDavid Caruso says banks should pay more attention to beneficial ownership issues. The managing director of Dominion Advisory Group, which designs and implements anti-money laundering (AML) programs for financial institutions, believes that "knowing the sources of funds for an account or transaction is fundamental to anti-money laundering and anti-terror financing efforts." A former special agent with the U.S. Secret Service, Caruso managed the AML and enhanced due diligence group at JP Morgan & Co., served at two major U.S. accounting firms as a director in charge of anti-money laundering compliance and fraud investigations, and was tapped to head compliance and...
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