💵 Fighting Back Against Scammers

Iowans work hard, live within their means, and plan for the future. They shouldn’t have to worry about scammers stealing their savings. But too often, that’s exactly what’s happening — and it’s putting families, especially seniors, at risk. 

Why it matters: Last year alone, Americans lost more than $12 billion to scams. These aren’t petty crimes. Scammers are exploiting everything from online romance schemes to crypto cons to wipe out a lifetime of savings with just a few clicks. 

Zoom out: Scammers are getting bolder—leveraging advanced technology, spoofing tools, and AI-generated deception. 

Many are operating from overseas, beyond the reach of local enforcement. Yet despite the scale of the threat, federal agencies are failing to coordinate with one another or the private sector on this issue. That gap is putting real people at risk.

The solution: We just introduced the bipartisan TRAPS Act. This bill would: 

✅ Bring law enforcement, regulators, and financial industry leaders to the same table 

✅ Strengthen understanding of scam methods being utilized by bad actors 

✅ Require annual reports with actionable steps to modernize fraud detection and consumer protections 

Bottom Line: Iowans deserve peace of mind that their hard-earned savings won’t vanish overnight. I’m leading the charge to bring law enforcement, regulators, and Congress together to crack down on fraud and defend Iowans’ financial security.