Telemarketing Fraud Prevention Act of 1997

Telemarketing Fraud Prevention Act of 1997 - Amends the Federal criminal code to provide for civil and criminal forfeiture of the proceeds of telemarketing fraud. Directs that any property forfeited, or the proceeds of such property, be used to the extent needed, as determined by the Attorney General, for the national information hotline established under the Violent Crime Control and Law Enforcement Act of 1994 and other telemarketing fraud enforcement.

Grants the payment of mandatory restitution for telemarketing fraud priority over the payment of restitution in connection with the commission of a Federal health care offense.

Directs the United States Sentencing Commission to amend the sentencing guidelines to increase: (1) by two levels the vulnerable victim adjustment; and (2) the offense level for any fraud offense by two levels if the defendant conducted activities to further the fraud from a foreign country in order to impede prosecution for the offense.

Requires any presentence report required under the Federal Rules of Criminal Procedure to include information about the age of each victim of each fraud offense for which a defendant is convicted.