Bank OZK Cyber Security Experts Speak with Pat Soldano of Family Enterprise USA about Protecting Legacy of Family-owned Businesses
-- In a new webcast from Family Enterprise USA, three cyber security and fraud experts from Bank OZK discuss how family-owned businesses can protect their trust—trust in identity, transactions, and decisions made under pressure.
In the webcast, available at FEUSA.com, Pat Soldano, President of Family Enterprise USA and Family Enterprise USA Action, speaks with Bank OZK’s Jeff Evans, Chief Information Security Officer, Ashley Wisdom, Chief Financial Crimes Risk Management Officer, and
Arindam Majumdar, Chief Risk Officer.
Soldano and her guests explore the unique cybersecurity and fraud risks faced by family-owned businesses and provides practical steps to help safeguard their businesses, data, and family legacy.
Bank OZK, based in Little Rock, Ark., has over $41 billion in assets, 3,000 employees, and over 250 offices in nine states. The Bank OZK experts say the most common entry points for fraud are email, social engineering, compromised customer devices, and third parties, such as vendor impersonation or compromised vendors.
Fraud usually starts long before money moves and often outside the bank entirely, according to Evans.
“Most real-world financial harm does not come from systems being broken into, but from people being convinced to take legitimate actions for illegitimate reasons,” Evans says during the webcast. “Attackers primarily target email relationships, urgency, and trust, often gaining control of someone's email or identity to appear as a trusted contact.”
During the webcast, Wisdom and Majumdar stress enforcing “multi-factor authentication (MFA), empowering “people to pause” urgent transactions, to “stay on top of accounts,” and reporting anything suspicious to minimize liability and loss.
The webcast is part of a series focused on the critical issues facing family-owned businesses and produced by Family Enterprise USA, advocates for family-owned businesses.
According to research, America’s family-owned businesses contribute $7.7 trillion annually to the U.S. gross domestic product, accounting for 83.3 million jobs, or 59 percent of the country’s private workforce.
“Family-owned businesses are threatened everyday by bad actors and it’s important these critical steps are taken to secure the legacy of the business for generations to come,” said Soldano. “Our webcasts are designed to provide critical information, like cybersecurity strategies, to help family businesses on economic policies, taxes, and to avoid identity theft and take the necessary steps to help safeguard their businesses, data, and family legacy.”
Other webcasts and podcasts are available Family Enterprise USA Podcasts.
About the company: About Family Enterprise USA: Family Enterprise USA promotes family-owned business creation, growth, viability, and sustainability by advocating for family businesses and their lifetime of savings with Congress in Washington, D.C. FEUSA represents and celebrates all sizes, professions and industries of family-owned enterprises and multi-generational employers. FEUSA is a 501.C3 organization. About Family Enterprise USA Action (formerly Policy and Taxation Group): Family Enterprise USA Action engages with legislators on Capitol Hill on behalf of family-owned businesses, family offices, and successful families. It is focused exclusively on the critical tax and economic policies that impact them. FEUSA Action is the leading advocacy group working daily in Washington, D.C., to reduce and eliminate estate tax, gift tax, and generation skipping transfer tax while blocking increased income and capital gains taxes, the creation of a wealth tax, and other hostile policies that punish hardworking taxpayers and success in the U.S. It is a bipartisan 501.c4 organization.
Contact Info:
Name: Bob Chew
Email: Send Email
Organization: Family Enterprise USA and Family Enterprise USA Action
Address: 712 H Street NE Suite 1330, Washington DC, United States
Phone: 310-383-0528
Website: https://familyenterpriseusa.com/
Video URL: https://www.youtube.com/watch?v=J7jsKIor1Mw
Release ID: 89184521
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