Cryptocurrency Exchange Bitfinex Appoints AML Veteran Peter Warrack - The Industry Spread

Ricardo Esteves

Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.

Bitfinex

Cryptocurrency Exchange Bitfinex Appoints AML Veteran Peter Warrack

May 9, 2018
Peter Warrack, Bitfinex Chief Compliance Officer
Peter Warrack, Bitfinex Chief Compliance Officer

Bitfinex, one of the world’s largest cryptocurrency exchange operators, has announced the appointment of Peter Warrack as Chief Compliance Officer (CCO).

Warrack joins Bifinex from the Bank of Montreal, where he was the Director of Anti-Money Laundering Advisory and Compliance Officer. Prior to Bank of Montreal, Warrack was Senior Manager of Intelligence and Head of AML Investigations at RBC Royal Bank.

Jean-Louis van der Velde, Chief Executive Officer of Bitfinex, said:

“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. 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.”

Peter Warrack commented on the appointment:

“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.”

“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”, he added.

Jean-Louis van der Velde, Chief Executive Officer of Bitfinex
Jean-Louis van der Velde, Chief Executive Officer of Bitfinex

An AML veteran with 30 years of experience in the detection and prevention of economic crime, Peter Warrack has also served in military intelligence with senior officer roles within the Police Service of Northern Ireland.

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.

Warrack is currently 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.

The appointment of Peter Warrack greatly expand Bitfinex’s AML capabilities in the cryptocurrency space. The trading platform deals over $1.2 billion volume a day and provides peer-to-peer financing, OTC and margin trading across a number of digital assets.

Bitfinex has recently integrated market surveillance software Irisium (formerly Ancoa Ltd),to improve market integrity and transparency.

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