Financial crimes against seniors and vulnerable adults are a growing concern. According to AARP Iowa, financial exploitation is increasing, with estimates that one in six people over 64 fall victim to financial abuse. Iowa Fraud Fighters say that con artists often target older Americans, taking them for almost $3 billion each year.
Iowa Fraud Fighters got its start last year in response to a wave of scams aimed at seniors. It’s an effort by the Iowa Insurance Division and Iowa Attorney General’s office to help Iowans improve their financial literacy and avoid fraud. The initiative is funded partially through fines and settlements levied against wrongdoers.
In addition to hosting informational forums throughout the state, Iowa Fraud Fighters offers these tips to avoid scams:
- Get on the National Do Not Call Registry. Register your phone number at www.donotcall.gov or 888-382-1222.
- Take the time you need to research, get advice and learn more before making a large purchase or investment.
- Don’t be afraid to say “no.”
- Monitor your money by regularly reviewing your accounts and investments.
- Report fraud to help protect others from the same scam.
For more tips and resources, as well as upcoming Fraud Fighter Forums, go to www.iowafraudfighters.gov. To report financial fraud, contact the Iowa Insurance Division at 877-955-1212 or the Consumer Protection Division in the Iowa Attorney General’s office at 888-777-4590.