Seniors who have been a victim of fraud will soon have a way to report it. A national hotline will take calls about general finance, medical and financial abuse questions from 9 a.m. to 6 p.m. EST on Nov. 10.
Many organizations, including the National Adult Protective Services Association, the Financial Planning Association, Baylor College of Medicine, the Investor Protection Trust, Investor Protection Institute and Kiplinger's Personal Finance, will make available three separate call-in lines that day to field calls from seniors and adult children of the elderly.
It is estimated that one out of every five citizens over the age of 65 has been victimized by a financial swindle. Of particular concern are seniors with mild cognitive impairment, who can perform most daily functions but have trouble or become confused when it comes to managing their finances.
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