Iowans met in Ames Thursday to find out how to protect their savings from con artists.
The Insurance Commissioner and the department’s Fraud Fighters’ mission is to educate and empower Iowans, especially older Iowans, in an effort to combat investment and insurance fraud.
They also gave them tools to prevent them from becoming a victim.
“We’re telling them they can double check and call our office to see if the producers are in good standing,” Iowa Insurance Commissioner Nick Gerhart advises.
“Work with a trusted advisor, there are a lot of good advisors out there, and sleep on it before you make a decision. Think about it before you invest.”
Officials say con artists are targeting Americans age 60 and older. Statistics show they swindle more than 5-million Americans out of $3-billion each year.