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Screenshot of a breaking news alert e-mail from Q2 2017
Bitfinex, one of the world’s leading digital asset trading platforms, has announced that 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,” said Jean-Louis van der Velde, Chief Executive Officer of Bitfinex.
A recognized expert in major crime investigation, anti-money laundering, and terrorist financing detection, prevention and investigation, Warrack has over 30 years of demonstrated experience in the detection and prevention of economic crime. With a professional history 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, Warrack’s appointment as Bitfinex CCO is intended to furnish the trading platform with the expertise and experience required to ensure that it continues to meet all relevant regulatory compliance standards.
“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,” said Warrack.
Serving as a noted thought-leader on economic crime prevention, 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. Warrack 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. 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,” added Warrack.
With a daily trading volume of more than $1.2 billion USD, Bitfinex is a leading provider of advanced trading features and charting tools, peer-to-peer financing, OTC and margin trading across a number of digital assets for the global trading community.
The news of Warrack’s addition to the Bitfinex team comes in the wake of a significant expansion of the exchange’s service offering and support capabilities. To complement the arrival of Warrack, Bitfinex has recently announced a partnership with Irisium (formerly Ancoa Ltd), a leading provider of market surveillance and analytical software for financial organisations. The integration is aimed at facilitating an industry-wide improvement in market integrity and transparency, bolstering Bitfinex’s ability to identify, investigate and regulate suspicious trading activity.
“We are elated to welcome Peter aboard at this important juncture in Bitfinex’s journey and look forward to all that lies ahead. He will be a wonderful asset to the team and the broader Bitfinex community,” concluded van der Velde.