Cryptocurrency exchange Bitfinex has named Peter Warrack its chief compliance officer (CCO). Previously, Warrack worked as director of AML (anti-money laundering) at Fintech Advisory and compliance officer at the Bank of Montreal. He has over 30 years of experience in the prevention of economic crime, being an expert in AML, terrorist financing investigation, and major crime investigation.
Jean-Louis van der Velde, CEO of Bitfinex, commented on the move:
“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.”
Warrack’s hiring is meant to provide the exchange with the expertise needed to ensure that it complies with all regulatory standards. The new CCO has worked in military intelligence and for the Police Service of Northern Ireland, as well as in senior positions at the Royal Bank of Canada (RBC) and Bank of Montreal.
Warrack stated:
“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.”
Warrack is currently an instructor and board member of the Canadian Institute for Financial Crime Analysis (CIFCA), the country’s body dealing with money laundering risk and financial intelligence, in collaboration with the Faculty of Business at Seneca College.
Warrack’s appointment as CCO coincides with Bitfinex’s effort to expand its services and support solutions. The company has partnered with Irisium, which offers market surveillance and analytical programs for financial institutions. The crypto exchange hopes that Irisium’s software will help it identify and investigate suspicious trading activity.
Bitfinex is among the largest crypto exchanges in the world, with about $1.2 billion in daily trading volume. Recently, the platform added several new tokens, including Stellar’s Lumens and Verge.
This article appeared first on Cryptovest
