Don’t Fall for a Romance Scam

In 2023, romance scams made up nearly 30% of the senior financial exploitation reports filed with the Iowa Insurance Division. The total or attempted loss for these cases exceeded $4 million. With today being Valentine’s Day, there can be a sense of urgency for everyone to find someone, anyone, to be their “valentine” for the special day. Just be careful not to get swept away by a romance scam!

The below scam alert discusses some common tactics used by scammers, and some tips on how you can protect yourself and your money.

• A PDF of this scam alert can be downloaded at the Iowa Insurance Division’s website by clicking here.
• If you are a financial advisor, check out our Senior Financial Exploitation Newsletter on Romance Scams form earlier this month by clicking here.
• If you want to learn more or have questions about how you can better protect yourself from fraud. Join the Iowa Department of Insurance & Financial Services, the Iowa Attorney General’s Office, and AARP for a FREE educational Stop the Scammers event near you.