Former MasterCard executive William Dennings has joined Bitreserve as the firm’s chief information security officer (CISO).

Bitreserve noted Dennings’ appointment would be instrumental in the company’s mission to set anti-money laundering (AML) and know your customer (KYC) controls, required to safeguard users’ deposits and information.

The newly appointed CISO said:

“Information security extends well beyond IT and customer service in the global payments sector. It’s vital to the secure, instant, easy and free movement of money that Bitreserve offers our members.”

Having previously held the role of CISO at MasterCard, Dennings moved on to Nike in May 2013, where he held the same position for two years.

According to Bloomberg, he was named in a civil complaint filed by MasterCard against the sports giant, alleging he and a former engineering manager had urged colleagues to join them at Nike, in violation of their employment contracts.

Denning’s announcement follows the appointment of Anthony Watson, former Nike CIO, as Bitreserve’s new president and COO in April.

Correction: A previous version of this article stated that William Dennings had been named in a criminal complaint filed by MasterCard. The article has now been corrected to reflect that it was a civil complaint.

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