“Money is being taken a little bit at a time across accounts,” Loewy says. “These exploiters are smart and sophisticated.”

Clients can establish one or more trusted advocate who is alerted to suspicious activity.

“These would be people in their inner circle who they would want to look after them,” Tischler says,. “The senior can decide how much or how little information their trusted advocates should be able to see. When alerts occur, the senior or the advocates can update us to say that everything is okay, or red flag the activity.”

So far, the software has generated more than 60 alerts in a little over a year, Loewy says.

The protection software was developed in conjunction with financial, law enforcement, health and non-profit leaders.

 

 

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