A person designated by a financial-services customer whom an institution may contact when it reasonably suspects financial exploitation, diminished capacity, or difficulty reaching the customer. Designation does not ordinarily grant authority over the account.
Category: fraud prevention. Part of the Identity Technologist Glossary — more than 200 practitioner-grade definitions covering identity verification, KYC/AML, biometrics, fraud prevention, and compliance. See all terms at https://identitytechnologist.com/glossary.