SOURCE: Dominion Advisory Group

July 11, 2006 10:05 ET

Dominion Advisory Group Celebrates First Anniversary

Sees High Demand for Its Expertise in First Year

CENTREVILLE, VA -- (MARKET WIRE) -- July 11, 2006 -- Dominion Advisory Group, the premier provider of anti-money laundering and investigations solutions, today marked the company's first anniversary. Established in July 2005, Dominion Advisory Group develops and implements comprehensive anti-money laundering (AML) programs for some of the top domestic and international financial institutions and corporations.

Dominion Advisory Group is led by managing directors David Caruso, Jonathan Glass, and Peter Balint, each of whom brings extensive industry and consulting experience in banking, compliance, law enforcement, regulatory oversight, and technology solutions to financial institutions seeking to build and implement AML programs, prepare for audits and examinations, and respond to enforcement actions.

--  David Caruso, CEO of the Dominion Advisory Group, began his career as
    a Special Agent with the U.S. Secret Service, before being hired to manage
    the anti-money laundering and enhanced due diligence group at JP Morgan &
    Company. David subsequently served as a director at two "Big Four"
    accounting firms, where he led anti-money laundering compliance and fraud
    investigations. In 2003, David was hired as Executive Vice President of
    Compliance & Security for Riggs Bank, where he was responsible for building
    a regulatory compliance, investigations, and security department in
    response to 2003 enforcement action against Riggs. Mr. Caruso led the
    development and implementation of a BSA/AML program across all consumer,
    commercial, investment, and international business lines.  Caruso oversaw
    the investigations of Augusto Pinochet's alleged money laundering as well
    as the corruption involving senior bankers from Riggs and government
    officials of Equatorial Guinea.
    
--  Jonathan Glass, COO of the Dominion Advisory Group, is a seasoned AML
    consultant with broad experience in investigations and transaction
    monitoring. Jon joined Riggs Bank in 2003, where he was responsible for
    developing comprehensive processes and leveraging technology to monitor,
    detect, investigate, and report to the government suspicious financial
    transactions indicative of money laundering, terror financing, and fraud.
    Before joining Riggs Bank, Jon was the Director of Fraud and Security
    Department for the largest affiliate of AT&T Wireless. In this position,
    Jon was responsible for the security and investigations operations in
    sixteen states and Puerto Rico.
    
--  Peter Balint, CFO of the Dominion Advisory Group, began his career
    working with Arthur Andersen's Financial Advisory Services group, before
    joining KPMG's Investigative and Integrity Assurance Services group. From
    there, he was hired as an officer at Riggs Bank, where he was tasked with
    the development of the bank's program to detect and analyze suspicious
    activity for all products and services offered by various banking groups.
    
In addition to its work with some of the top financial institutions in the world, Dominion Advisory Group also specializes in providing investigative services to law firms and corporations relating to potential insider abuse, external fraud, and ethics and integrity issues. Dominion's directors and seasoned advisors work with executive management, boards of directors and outside counsel to act upon investigative discoveries to protect clients' interests and minimize business disruption.

"The formation of the Dominion Advisory Group was a strategic decision based on increasing demand for experience in both investigative response and sustainable AML programs," said David Caruso, CEO of Dominion Advisory Group.

"One of the greatest lessons of my career has been the value in putting together a top-notch team of experts," said David Caruso. "Working with Jon Glass and Peter Balint has always been a tremendous experience, and Dominion seemed the next logical step for leveraging our collective experience in regulatory compliance & security investigations."

"In just our first year together at Dominion, we've been able to assist nearly a dozen financial institutions and corporations navigate the vast landscape of government regulations. We've seen great demand for AML consulting that provides full implementation, demonstrable results, and measurable improvements, and our first-year performance is a testament to the growing market for the comprehensive AML solutions we provide. We're looking forward to strong years to come."

About Dominion Advisors

Dominion Advisory Group (www.dominion-advisors.com) is the premier provider of anti-money laundering and investigations solutions for some of the top domestic and international financial institutions, law firms and corporations. Founded by David Caruso, Jonathan Glass, and Peter Balint, Dominion Advisory Group has extensive experience in banking, compliance, law enforcement, regulatory oversight, technology, and consulting to assist financial institutions and corporations navigate the complex regulatory environment.

Contact Information

  • Contact Information:
    Matt Langan
    202-298-7600 x. 219
    Email Contact