The Fraud Examiner
Unique Challenges Present Unique Opportunities for Risk Intelligence Director
ACFE Member Profile
Peter Warrack, CFE
Director of Risk Intelligence, BMO Financial Group
As Director of Risk Intelligence for BMO Financial Group, Peter Warrack, CFE, has assisted with his fair share of investigations and challenges. Having worked in the U.K. and Canada, Warrack has formed and headed anti-money laundering financial intelligence units in multiple companies. When asked about the unique challenges with risk management in relation to fraud Warrack says, “Rather than unique challenges, I would say unique opportunities. Detecting money laundering identifies fraud and vice versa, leveraging both is a win-win situation.”
Where were you born and raised?
I was born and raised in London, U.K. I left home at 17 years old to join the British Army.
How did you become passionate about fighting fraud?
After leaving the army, I joined the police in Northern Ireland. After a short time in uniform I became a detective and quickly found myself dealing with everything from terrorist atrocities and homicide to fraud and money laundering. I ended up in the Fraud Squad working with major and complex cases and realized I had a knack for solving such crimes and putting the perpetrators before the courts.
Why did you decide to pursue the CFE credential?
Truthfully, I had been putting it off for years – I felt I didn’t need a qualification when I had demonstrated experience investigating fraud in the real world. However, more recently when I spoke with other ACFE members, I realized I could learn a lot from the ACFE community. They encouraged me to obtain the certification, and I’m glad I did.
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