Bitfinex, a digital asset trading platform, announced this week Peter Warrack, former director of AML (Fintech Advisory) and compliance officer at the Bank of Montreal has joined the exchange as chief compliance officer (CCO).
“We are exceptionally excited to have Peter join Bitfinex. His knowledge and experience, combined with our shared belief in blockchain playing a leading role in the future of the global economy, makes him a unique and valuable talent for our team,” Bitfinex CEO Jean-Louis van der Velde said.
Mr. Warrack has more than 30 years of demonstrated experience in the detection and prevention of economic crime. His professional history includes periods in military intelligence, senior officer roles within the Police Service of Northern Ireland, and senior positions within the Royal Bank of Canada (RBC) and the Bank of Montreal’s Financial Intelligence Units.
“I am incredibly excited to be joining Bitfinex as CCO. As a longtime advocate of blockchain technology and the integration of token markets into the mainstream, I hope to be a valuable asset to Bitfinex moving forward and to help facilitate the continued expansion of their service offering to professional and institutional traders by ensuring the highest standard of regulatory compliance,” Mr. Warrack said.
Mr. Warrack has published a number of articles on AML best practices and risk mitigation, winning the ACAMS AML Professional of the Year Award in both 2011 and 2017 for his services to the AML profession. He currently serves as an instructor and board member of the Canadian Institute for Financial Crime Analysis (CIFCA), Canada’s center for money laundering risk and financial intelligence, in conjunction with the Faculty of Business at Seneca College.
“Drawing on the skills cultivated during my time working in law enforcement and intelligence, as well as my experience within the traditional financial sector, I am aware of the importance of developing a culture of intelligence throughout the relevant parts of an organization to ensure satisfaction of compliance standards,” Mr. Warrack added. “I believe that my background, combined with my knowledge of and previous work within the blockchain space, will allow me to ensure that Bitfinex solidifies its position as an industry leader.”