AUGUSTA — Maine’s Office of Securities is joining a National Call-In Day effort to highlight elder financial abuse Thursday.
The effort is aimed at encouraging seniors, their advocates and caregivers, to report cases of possible financial or investment exploitation, or to simply ask questions.
Estimates indicate that one out of every five people over the age of 65 has been victimized by a financial scam. “As we seek to improve the economy and strengthen the financial security of Maine families, it’s important to help our seniors safeguard the assets they’ve acquired during a lifetime of hard work,” Gov. Paul LePage said in a statement. “That must change, and it begins by encouraging more reporting of concerns by seniors or their caregivers,” LePage said.
Securities Administrator Judith Shaw noted that seniors with mild cognitive impairment are among the most vulnerable. Those seniors can perform most daily functions, but have trouble when it comes to managing their finances, Shaw said. “We urge them to come forward to report possible exploitation or to receive free resources.”
The toll-free number to call from 9 a.m. to 5 p.m. is 1-877-624-8551.
National Call-In Day is a collaboration with the Investor Protection Trust, the National Adult Protective Services Association, the Financial Planning Association, and Baylor College of Medicine. Kiplinger’s Personal Finance is also a partner in the Nov. 10 hot line project. More information is available at www.investors.maine.gov.
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