đ¨ Stopping the Scammers
Late last year, I heard a story about a 69-year-old Iowa retiree who believed heâd found a friend online. They talked for months, sharing personal stories and building trust. Then came the pitch : a âsafeâ 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 âpig butcheringâ scam, and itâs one of the fastest-growing threats devastating families across Iowa. Stories like his are exactly why I introduced the GUARD Act â bipartisan legislation designed to give local law enforcement the tools they need to hold criminals accountable and protect Iowansâ 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: đť Cracking down on crypto scams and cyber-enabled fraud đŚ Protecting Iowaâs community banks and credit unions đ Strengthening financial system security and combatting illicit threats Why it matters : Local law enforcement, hometown banks, and Iowa communities shouldnât 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, weâre 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. Thatâs why weâre fighting for fewer bureaucratic hurdles, reliable fraud enforcement, and stronger protections for every Iowanâs financial future.
44f818e3-ff58-45b7-8e91-7fcc70818549Issued within 24 hours
Other senators' releases published in the day before or after this one.