In Iowa, we take pride in commonsense values: work hard, love your family, and be “Iowa nice.” Unfortunately, not everyone has the same approach to life.
Criminals across the world look to make a quick buck at every opportunity – and take advantage of our “Iowa nice” ways to steal hard-earned money.
One of the most offensive scams? “Pig Butchering.”
Let’s look at these scams by the numbers:
- Just last year, the Iowa Attorney General’s office received more than 13,000 financial fraud reports resulting in approximately $42.6 million in financial losses.
- These scams often target older Americans. In 2021, the median loss for individuals over 70 was a staggering $9,000, compared to $2,400 across all age groups.
These scammers are growing increasingly sophisticated as technology is rapidly evolving. Unfortunately, local law enforcement doesn’t always have the tools to trace and confront scammers. That’s why I just introduced bipartisan legislation to help local law enforcement investigate these crimes.
Bottom Line: Iowa retirees shouldn’t have to worry about fraudsters. And if they are scammed, law enforcement should have the tools needed to deliver justice.