That ally is the Iowa Insurance Division, headed by state Insurance Commissioner Doug Ommen.

Ommen visited Fort Dodge on Friday to address members of the North Central Iowa Affiliate of NAIFA, which is a professional organization of financial advisers and insurance agents. During the group’s meeting at Fort Dodge Ford Lincoln Toyota, the commissioner talked about the law enforcement powers his agency has, particularly regarding financial exploitation of the elderly.

He said the Iowa Insurance Division has an Insurance Fraud Bureau with a staff of certified law enforcement officers.Those officers investigate when there are significant suspicions that someone is being exploited.

”There have been millions of dollars in losses which have been identified and will be prosecuted,” Ommen said.

He told the financial professionals that a new state law grants them immunity if they report suspected fraud cases.

”It’s put the advisers in the position of being the bird dog that calls out the problems,” he said.

He said tips from financial advisers are key to fighting fraud because ”so many of the consumers that are getting ripped off don’t realize they’re getting ripped off.”

”If you see something, report it to us in confidence,” he said.

Following his presentation to the NAIFA members, Ommen talked to The Messenger about ways consumers can protect themselves from fraud.

He said consumers should contact the Iowa Insurance Division to determine if a financial adviser is properly licensed, and if there have been complaints or disciplinary action involving that adviser.

According to Ommen, having an ongoing relationship with a local financial adviser is the best way to proceed.

He added that there are no investment decisions that need to be made immediately.

”The door-knocking agents that come around put a lot of pressure on people,” he said. ”Don’t give in to that pressure. Don’t make a decision alone. Talk to someone you trust.”

The Iowa Insurance Division can be contacted by calling 515-654-6600.

The division’s web site is id.iowa.gov.

To file a complaint online, go to the web site, click on consumers in the main menu and then click on complaints.