DES MOINES, Iowa — Congressman Zach Nunn introduced a bill last week to increase resources for law enforcement dealing with financial fraud scams.
The bill targets scams known as pig butchering, where criminals deceive mainly older individuals into investing in fake opportunities.
Last year, the Iowa Attorney General’s Office received 13,000 reports of financial fraud, leading to about $42.6 million in losses for residents. Nationwide, $300 million was seized in stolen funds from these online scams in 2023.
The proposed bill aims to help local and state law enforcement use federal grants to tackle these cases, many of which don’t require federal involvement.
“I’m confident, with bipartisan support, we’ll advance this bill in committee this month, said Congressman Zach Nunn R-IA. This is a crucial step in protecting seniors and meeting the needs of our law enforcement agencies.