WEBVTT 00:00:00.000 --> 00:00:03.080 Welcome to Milestone Moments, the show where 00:00:03.080 --> 00:00:05.960 we explore the journeys that lead to success. 00:00:06.620 --> 00:00:10.199 I'm Sheila Slick, your host and founder of Five 00:00:10.199 --> 00:00:13.859 Milestones. In every episode, we will bring you 00:00:13.859 --> 00:00:17.100 insights from the minds of entrepreneurs, leaders 00:00:17.100 --> 00:00:20.800 and experts who will share not just their expertise, 00:00:20.879 --> 00:00:24.120 but the milestone moments that have reshaped 00:00:24.120 --> 00:00:27.039 their journeys and led to significant achievements. 00:00:27.960 --> 00:00:30.359 So if you're looking for motivation, you're in 00:00:30.359 --> 00:00:33.560 the right place. Subscribe now and discover the 00:00:33.560 --> 00:00:40.280 milestones that mark the path to success. Welcome 00:00:40.280 --> 00:00:44.020 to another episode of Milestone Moments in Business 00:00:44.020 --> 00:00:47.259 and Leadership. I'm your host, Sheila Slick. 00:00:47.679 --> 00:00:51.299 And today, my special guest is Devreen Dixon. 00:00:51.560 --> 00:00:55.780 Devreen is a JD and CAMS certified financial 00:00:55.780 --> 00:01:00.439 crime risk consultant with over 20 years of experience 00:01:00.439 --> 00:01:04.640 in legal services and financial crime risk management. 00:01:05.019 --> 00:01:08.879 Devreen is also the host of the Compliance Times 00:01:08.879 --> 00:01:13.170 podcast, a show that explores real -world financial 00:01:13.170 --> 00:01:17.209 crime cases, delivering compliance insights for 00:01:17.209 --> 00:01:21.150 anti -financial crime professionals while engaging 00:01:21.150 --> 00:01:24.890 true crime listeners through narrative -driven 00:01:24.890 --> 00:01:28.769 storytelling. Welcome to the show, Devreen. Thank 00:01:28.769 --> 00:01:31.590 you so much for having me, Sheila. I got a little 00:01:31.590 --> 00:01:34.670 bit tongue -twisted there, but that sounds fascinating, 00:01:35.069 --> 00:01:37.950 the Compliance Times podcast. But before I ask 00:01:37.950 --> 00:01:40.209 you about that, I'd love to learn a little bit. 00:01:40.489 --> 00:01:44.209 more about you and that pivotal moment that shifted 00:01:44.209 --> 00:01:48.629 your career from legal services into financial 00:01:48.629 --> 00:01:54.530 crime compliance. How did that transition shape 00:01:54.530 --> 00:01:57.650 your perspective on protecting institutions? 00:01:58.909 --> 00:02:02.790 Wow, that's a great question. Reflecting on that, 00:02:02.890 --> 00:02:07.230 for me, I started out as a paralegal early in 00:02:07.230 --> 00:02:11.259 my career. and did that for about nine years. 00:02:11.680 --> 00:02:14.520 And there's something about the law. It's all 00:02:14.520 --> 00:02:17.319 about ultimately compliance with different rules 00:02:17.319 --> 00:02:20.379 and regulations and things. So when I was working 00:02:20.379 --> 00:02:24.539 as a paralegal in a global law firm, I realized 00:02:24.539 --> 00:02:26.819 that that was the next step for me and the next 00:02:26.819 --> 00:02:28.319 logical step for me that I was very interested 00:02:28.319 --> 00:02:32.400 in doing was attending law school. So I applied, 00:02:32.620 --> 00:02:35.870 got into law school. I actually didn't officially 00:02:35.870 --> 00:02:38.789 discover anti -financial crime as being a potential 00:02:38.789 --> 00:02:42.770 career until my third and final year in law school. 00:02:42.949 --> 00:02:47.389 And that's when I took a couple of white -collar 00:02:47.389 --> 00:02:51.810 crime class and a class that specifically dealt 00:02:51.810 --> 00:02:55.270 with the Bank Secrecy Act, which is the primary 00:02:55.270 --> 00:02:58.490 law that regulates financial crime compliance. 00:02:59.259 --> 00:03:02.060 So I had the opportunity to, as part of that 00:03:02.060 --> 00:03:06.060 class, to interview what they call Bank Secrecy 00:03:06.060 --> 00:03:10.180 Act officers or BSA officers at a regional financial 00:03:10.180 --> 00:03:12.400 institution and I believe it was a community 00:03:12.400 --> 00:03:16.280 bank. And as they began to share with me their 00:03:16.280 --> 00:03:18.960 career and what they do to protect the bank, 00:03:19.080 --> 00:03:22.560 I grew incredibly fascinated with this career 00:03:22.560 --> 00:03:25.599 option. And so I knew that by the time I graduated, 00:03:25.780 --> 00:03:29.599 that that was what I wanted to do. So I appreciate 00:03:29.599 --> 00:03:31.360 my couple of law school professors there who 00:03:31.360 --> 00:03:35.639 introduced me to that, to this industry. And 00:03:35.639 --> 00:03:38.539 I think basically that's what really shaped my 00:03:38.539 --> 00:03:42.419 decision to get into this career, because the 00:03:42.419 --> 00:03:45.340 field specifically involves protecting financial 00:03:45.340 --> 00:03:49.159 institutions, at least in my career path, protecting 00:03:49.159 --> 00:03:51.780 them from any sort of financial crime, reputational 00:03:51.780 --> 00:03:55.039 risk, and just complying with the Bank Secrecy 00:03:55.039 --> 00:03:58.610 Act regulations. And so all that. between law 00:03:58.610 --> 00:04:00.909 school and having been a paralegal before that 00:04:00.909 --> 00:04:03.090 and just taking these, having the opportunity 00:04:03.090 --> 00:04:05.349 to interview folks in the field before I even 00:04:05.349 --> 00:04:08.509 got in the field really shaped my interest and 00:04:08.509 --> 00:04:10.650 desire to protect financial institutions from 00:04:10.650 --> 00:04:13.270 financial crime and reputational risks. So it's 00:04:13.270 --> 00:04:15.969 financial institutions. Do you ever help small 00:04:15.969 --> 00:04:19.430 businesses? Not in my career path. As part of 00:04:19.430 --> 00:04:23.230 my career path, I have mainly worked at a community 00:04:23.230 --> 00:04:26.189 bank and a global investment firm. But there 00:04:26.189 --> 00:04:29.500 are... certainly other types of businesses that 00:04:29.500 --> 00:04:32.360 fall under that financial institutions category, 00:04:32.579 --> 00:04:35.879 such as insurance companies, which are regulated 00:04:35.879 --> 00:04:38.819 in part by the Financial Crimes Enforcement Network, 00:04:39.000 --> 00:04:41.980 which oversees financial crime compliance. But 00:04:41.980 --> 00:04:45.259 there are, let's see, like fintech companies 00:04:45.259 --> 00:04:47.899 or financial technology companies. Those are 00:04:47.899 --> 00:04:51.100 also regulated. But in my experience, I've worked 00:04:51.100 --> 00:04:53.959 with a couple of financial institutions, more 00:04:53.959 --> 00:04:58.029 so than small businesses and things. So I'm not 00:04:58.029 --> 00:04:59.910 a banker and I don't have a financial institution, 00:05:00.129 --> 00:05:04.410 but I'd love one key lesson from your 20 plus 00:05:04.410 --> 00:05:07.949 years in financial crime compliance and being 00:05:07.949 --> 00:05:10.689 a paralegal that every person should understand 00:05:10.689 --> 00:05:15.310 about either protecting themselves or their business 00:05:15.310 --> 00:05:19.009 or organization, even if we don't work in finance. 00:05:19.029 --> 00:05:23.250 What would that be? Wow, just one. That's great 00:05:23.250 --> 00:05:28.740 to narrow that down. I would say. I think for 00:05:28.740 --> 00:05:31.720 me, having the through line throughout my career 00:05:31.720 --> 00:05:36.060 is really connecting yourself with folks who 00:05:36.060 --> 00:05:40.639 have significant experience in the industry and 00:05:40.639 --> 00:05:43.920 who can help guide you along the way. I remember 00:05:43.920 --> 00:05:46.480 just having people in my field as a paralegal 00:05:46.480 --> 00:05:50.160 and even being in the financial crime compliance 00:05:50.160 --> 00:05:52.810 and risk management industry, people who... were 00:05:52.810 --> 00:05:54.350 very knowledgeable about the field when I was 00:05:54.350 --> 00:05:57.949 at my very early stages and who helped me to 00:05:57.949 --> 00:06:00.930 learn how to become very detail -oriented about 00:06:00.930 --> 00:06:05.029 how to protect financial institutions or to help, 00:06:05.149 --> 00:06:07.589 when I was a paralegal, to help with banking 00:06:07.589 --> 00:06:10.050 and finance transaction closings and that sort 00:06:10.050 --> 00:06:13.649 of thing. So I think having mentors is very helpful. 00:06:14.170 --> 00:06:17.189 It's only one. The other thing, as far as protecting 00:06:17.189 --> 00:06:19.389 yourself, I think the key is just to stay informed. 00:06:19.750 --> 00:06:22.829 You know, I think about it in terms of of fraud. 00:06:22.930 --> 00:06:24.550 You know, you and I were talking a little bit 00:06:24.550 --> 00:06:29.750 about AI earlier. And I think that coupled with 00:06:29.750 --> 00:06:34.250 fraudulent schemes, coupled with AI, I think 00:06:34.250 --> 00:06:36.470 it's critically important to help both people 00:06:36.470 --> 00:06:39.610 in my industry as well as non -financial crime 00:06:39.610 --> 00:06:43.310 professionals to understand how to protect themselves, 00:06:43.470 --> 00:06:45.329 to be aware of the different types of crimes 00:06:45.329 --> 00:06:47.209 that are out there and how criminals are unfortunately 00:06:47.209 --> 00:06:50.310 using that to perpetrate crimes even faster. 00:06:50.730 --> 00:06:56.290 than what we even can imagine, right? So definitely 00:06:56.290 --> 00:06:58.269 making sure to be aware to do what you can to 00:06:58.269 --> 00:07:00.310 protect yourself. And that's helped me being 00:07:00.310 --> 00:07:03.189 in the financial crime space and even in my personal 00:07:03.189 --> 00:07:06.769 life as well. Are there specific websites or 00:07:06.769 --> 00:07:09.230 newsletters or is this something you're doing 00:07:09.230 --> 00:07:11.310 in your podcast, which we're going to get to 00:07:11.310 --> 00:07:14.290 in a second? Oh my goodness, yes. That's actually 00:07:14.290 --> 00:07:16.129 something that I'm going to be incorporating 00:07:16.129 --> 00:07:20.089 into my podcast. But otherwise, there are certainly 00:07:20.089 --> 00:07:22.589 websites that consumers can use to protect themselves, 00:07:22.889 --> 00:07:29.410 whether it is the FBI .gov. They have an area 00:07:29.410 --> 00:07:31.629 of their website where if you've been a victim 00:07:31.629 --> 00:07:34.889 of fraud, then you can file a report through 00:07:34.889 --> 00:07:39.370 what's called the IC3 website. So FBI websites, 00:07:39.769 --> 00:07:42.089 Homeland Security, they often have red flags 00:07:42.089 --> 00:07:45.920 that consumers can review and just... rely on 00:07:45.920 --> 00:07:50.439 to protect themselves. I will say AARP is another 00:07:50.439 --> 00:07:54.319 good site for fraud prevention because they have, 00:07:54.339 --> 00:07:56.259 I believe it's called Fraud Watch, but that's 00:07:56.259 --> 00:07:59.220 something they are really just pushing forward 00:07:59.220 --> 00:08:02.220 because of the amount of fraud that's perpetrated 00:08:02.220 --> 00:08:05.379 against the elderly primarily and really just 00:08:05.379 --> 00:08:07.759 anyone to help protect themselves. So I would 00:08:07.759 --> 00:08:10.040 recommend sites like those. And if you really 00:08:10.040 --> 00:08:12.519 want to get... nerdy about it. I mean, there's 00:08:12.519 --> 00:08:15.399 certainly sites like the Financial Crimes Enforcement 00:08:15.399 --> 00:08:17.639 Network, but I think people who are not in the 00:08:17.639 --> 00:08:19.839 industry may or may not find that kind of boring, 00:08:19.920 --> 00:08:22.579 but I find it very interesting and I appreciate 00:08:22.579 --> 00:08:25.620 the information they put out as well. Now, even 00:08:25.620 --> 00:08:29.000 when I travel, I love going into the state departments 00:08:29.000 --> 00:08:31.920 that learn the risks when you're traveling so 00:08:31.920 --> 00:08:34.919 that you're at least aware and you feel up to 00:08:34.919 --> 00:08:37.919 date. So I think those are three great places, 00:08:37.940 --> 00:08:39.940 even though, you know, sending me over to the 00:08:39.940 --> 00:08:43.360 FBI is a bit intimidating. Right. It is. It is. 00:08:43.460 --> 00:08:45.659 It's a resource. I mean, you know, it's definitely 00:08:45.659 --> 00:08:47.960 a resource. And it may not be one that people 00:08:47.960 --> 00:08:50.039 would readily think about, you know. But nonetheless, 00:08:50.539 --> 00:08:52.799 just having been in the industry for as long 00:08:52.799 --> 00:08:55.159 as I have, I've come across these sites and I 00:08:55.159 --> 00:08:57.500 found them to be very helpful. That if I didn't, 00:08:57.500 --> 00:08:59.580 if I wasn't in this industry, I would direct 00:08:59.580 --> 00:09:02.460 someone to them. Well, that's great. So now let's 00:09:02.460 --> 00:09:07.080 talk about the Compliance Times podcast. What's 00:09:07.080 --> 00:09:09.679 the podcast about? And I know you've been talking 00:09:09.679 --> 00:09:12.559 about revamping it. So what does that look like? 00:09:13.460 --> 00:09:16.960 So, wow, the podcast was really born out of a 00:09:16.960 --> 00:09:20.960 wonderful idea from Chris Kramitzos, who runs 00:09:20.960 --> 00:09:24.620 PodFest. And he gave me the idea based on the 00:09:24.620 --> 00:09:27.080 industry that I work in to do a podcast about 00:09:27.080 --> 00:09:29.059 it instead of what I had thought about doing, 00:09:29.159 --> 00:09:31.320 doing a podcast about real estate initially. 00:09:31.460 --> 00:09:33.159 But when he found out that I was into anti -financial 00:09:33.159 --> 00:09:35.320 crimes compliance, he was like, oh, my gosh, 00:09:35.379 --> 00:09:38.120 that's. that's exciting. You should do a podcast 00:09:38.120 --> 00:09:40.379 about that. I was like, well, I never really 00:09:40.379 --> 00:09:41.799 thought about that. I don't know the first thing 00:09:41.799 --> 00:09:44.960 about podcasting, but he held my hand, you know, 00:09:44.960 --> 00:09:47.340 in being the expert that he is and held my hand 00:09:47.340 --> 00:09:50.019 in, you know, walking me through how to start 00:09:50.019 --> 00:09:53.419 a podcast. And I love it. I look forward to continuing. 00:09:53.519 --> 00:09:56.889 So thank you very much, Chris Kavitsos. Well, 00:09:57.049 --> 00:10:00.789 the Compliance Times podcast, the full name is 00:10:00.789 --> 00:10:04.049 the Compliance Times, a deep dive into anti -money 00:10:04.049 --> 00:10:06.830 laundering one case at a time. Very SEO rich 00:10:06.830 --> 00:10:13.529 indeed. So it is essentially a single host audio 00:10:13.529 --> 00:10:17.669 podcast that I started back in 2018. And the 00:10:17.669 --> 00:10:20.870 focus is examining true financial crime cases 00:10:20.870 --> 00:10:26.289 and providing compliance insights to. folks in 00:10:26.289 --> 00:10:28.690 my industry like myself, anti -financial crime 00:10:28.690 --> 00:10:32.090 professionals, while also attracting and engaging 00:10:32.090 --> 00:10:35.789 true crime enthusiasts. As you can imagine, financial 00:10:35.789 --> 00:10:38.669 crime cases that are true, a true crime, would 00:10:38.669 --> 00:10:41.490 be very interesting for folks who are interested 00:10:41.490 --> 00:10:43.149 in the true crime genre. It's a different take 00:10:43.149 --> 00:10:46.789 on it, on the true crime genre. I set it up in 00:10:46.789 --> 00:10:49.450 a way that the show is structured so that it 00:10:49.450 --> 00:10:51.429 always asks the same three questions. Essentially, 00:10:51.549 --> 00:10:53.909 you know, what happened in the case, how it was 00:10:53.909 --> 00:10:57.690 uncovered. And what can, I say, AFC professionals, 00:10:57.870 --> 00:10:59.649 meaning anti -financial crime professionals, 00:10:59.950 --> 00:11:02.830 learn from the case? You know, what they can 00:11:02.830 --> 00:11:05.710 take away from the case to go back and protect 00:11:05.710 --> 00:11:08.929 their organizations for financial crime that 00:11:08.929 --> 00:11:11.230 was described in the true crime piece of the 00:11:11.230 --> 00:11:15.230 podcast. But I started it because this just goes 00:11:15.230 --> 00:11:18.389 to show you how, I guess, I don't know too many 00:11:18.389 --> 00:11:20.409 people that start a podcast based on something 00:11:20.409 --> 00:11:23.500 they love doing as their full -time job. It was 00:11:23.500 --> 00:11:26.360 something that I thought was fun. It gave me 00:11:26.360 --> 00:11:29.799 the ability to just to unleash the creative side 00:11:29.799 --> 00:11:33.539 of what I could do in this anti -financial crime 00:11:33.539 --> 00:11:38.539 space. And my next steps are continuing the podcast 00:11:38.539 --> 00:11:42.100 in the format that it's in. But rather than selecting 00:11:42.100 --> 00:11:46.279 random cases to discuss, I'm looking at doing 00:11:46.279 --> 00:11:50.019 seasonal arcs similar to television shows. that 00:11:50.019 --> 00:11:52.620 focus on a specific area or specific type of 00:11:52.620 --> 00:11:55.279 financial crime and just providing compliance 00:11:55.279 --> 00:11:57.259 insights to folks like myself who are in the 00:11:57.259 --> 00:11:59.799 anti -financial crimes compliance industry and 00:11:59.799 --> 00:12:03.399 continuing to engage true crime listeners. So 00:12:03.399 --> 00:12:06.320 between that and creating some maybe some short 00:12:06.320 --> 00:12:10.240 form content for folks in my industry that help 00:12:10.240 --> 00:12:13.220 them do fight the good fight financial crimes 00:12:13.220 --> 00:12:15.299 compliance. Those are some of the things on the 00:12:15.299 --> 00:12:17.279 horizon for me at this point. So more to come, 00:12:17.360 --> 00:12:21.100 more to come. Now, do you offer consulting or 00:12:21.100 --> 00:12:24.620 do you have any ways that people can work one 00:12:24.620 --> 00:12:28.220 -on -one with you or in a group setting? Yes, 00:12:28.220 --> 00:12:32.799 consulting is part of that lineup to create. 00:12:32.919 --> 00:12:37.019 The goal is to put out these different assets, 00:12:37.299 --> 00:12:40.539 you know, the podcast episodes and some industry 00:12:40.539 --> 00:12:44.039 insights and for compliance professionals like 00:12:44.039 --> 00:12:48.500 myself and to do. one consulting for their institutions, 00:12:48.620 --> 00:12:51.700 or perhaps even on an individual basis. Whichever 00:12:51.700 --> 00:12:54.419 works, I want to help the industry help fight 00:12:54.419 --> 00:12:57.559 this good fight of anti -financial crimes compliance. 00:12:58.000 --> 00:13:01.100 Are you changing the name? Are you keeping the 00:13:01.100 --> 00:13:04.200 same title? And if so, can you repeat it so that 00:13:04.200 --> 00:13:07.480 we know what to look for in the podcast platforms? 00:13:07.940 --> 00:13:12.039 Sure. Thank you for asking. Yes, I am making 00:13:12.039 --> 00:13:14.549 a slight change to the subtitle. It's currently 00:13:14.549 --> 00:13:17.470 called The Compliance Times, A Deep Dive into 00:13:17.470 --> 00:13:20.230 Anti -Money Laundering, One Case at a Time. But 00:13:20.230 --> 00:13:24.029 I wanted to expand the show to go beyond simply 00:13:24.029 --> 00:13:27.570 money laundering cases. The revamped title will 00:13:27.570 --> 00:13:31.289 be The Compliance Times, A Deep Dive into Anti 00:13:31.289 --> 00:13:34.610 -Financial Crimes, One Case at a Time. That's 00:13:34.610 --> 00:13:37.409 more all -encompassing beyond money laundering 00:13:37.409 --> 00:13:40.129 because there's also fraud and there's sanctions 00:13:40.129 --> 00:13:43.610 violations. So, yeah, I want to limit myself 00:13:43.610 --> 00:13:45.389 just to money laundering. I want to see how I 00:13:45.389 --> 00:13:47.429 can help other people to combat this stuff, whether 00:13:47.429 --> 00:13:50.250 you're in the industry or a consumer. I'm staying 00:13:50.250 --> 00:13:53.950 tuned for your updates. Well, thank you for joining 00:13:53.950 --> 00:13:56.850 me today, Davreen. Absolutely. I appreciate the 00:13:56.850 --> 00:14:00.990 invitation. And thank you so much. And thank 00:14:00.990 --> 00:14:04.350 you all for tuning in to another episode of Milestone 00:14:04.350 --> 00:14:07.389 Moments in Business and Leadership. Until next 00:14:07.389 --> 00:14:07.830 time.