Late last year, I heard a story about a 69-year-old Iowa retiree who believed he’d found a friend online. They talked for months, sharing personal stories and building trust. Then came the pitch: a “safe” crypto investment opportunity.
By the time he realized it was a scam, $164,000 of his retirement savings was gone.
Zoom in: This type of fraud is known as a “pig butchering” scam, and it’s one of the fastest-growing threats devastating families across Iowa. Stories like his are exactly why I introduced the GUARD Act — bipartisan legislation designed to give local law enforcement the tools they need to hold criminals accountable and protect Iowans’ hard-earned savings.
This week, key provisions of the GUARD Act passed the House with strong bipartisan support as part of a major funding package. That package also included top priorities I fought to advance:
đź’» Cracking down on crypto scams and cyber-enabled fraud
🏦 Protecting Iowa’s community banks and credit unions
đź”’ Strengthening financial system security and combatting illicit threats
Why it matters: Local law enforcement, hometown banks, and Iowa communities shouldn’t be forced to fight 21st-century crime with 20th-century tools. These scams are sophisticated, international, and fast-moving.
By cutting red tape and equipping our communities with modern enforcement tools, we’re taking the fight straight to the fraudsters and making government work for the people it serves.
Bottom Line: Washington should stand with the folks who play by the rules. That’s why we’re fighting for fewer bureaucratic hurdles, reliable fraud enforcement, and stronger protections for every Iowan’s financial future.