Scammers stole $3.4 billion from retirees in 2023 — but that’s just what was reported.
The real number: The FTC estimates actual losses were upwards of $60 billion. That means for every $1 in reported fraud, at least $17 went unreported.
Apply that to Iowa: Iowans over 60 reported $42.6 million in fraud losses in 2023. Apply the FTC estimate, and the true cost to Iowa seniors is closer to $750 million.
This is a serious problem, which is why I joined Iowa law enforcement officers and advocates at an event this week where we announced a new solution.
Click above to watch the livestream
The solution: The GUARD Act is bipartisan legislation we just introduced to put cutting-edge tools, tech, and training in the hands of local law enforcement to help them track down criminals, stop scams in real time, and give our seniors the protection they deserve.
You can learn more about the GUARD Act by clicking here, and read what they’re saying about our bill below:
Zach Nunn proposes bipartisan legislation to combat ‘pig butchering’ scams targeting older Iowans — Des Moines Register
AARP Backs Legislation to Help Local Police Fight Elder Fraud — AARP
Rep. Nunn introduced a bill to empower local and state police to fight online scams — WGEM