What does Preamble of GUARD Act do?

This bill permits State, local, and Tribal law enforcement agencies to use eligible Federal grant funds for investigating elder financial fraud, pig butchering, and general financial fraud. The bill clarifies that Federal law enforcement agencies may assist State, local, and Tribal law enforcement agencies in using tracing tools for blockchain and related technology. The bill aims to address financial fraud and related issues.

What does SHORT TITLE. of GUARD Act do?

This bill is formally titled the 'Guarding Unprotected Aging Retirees from Deception Act' or the 'GUARD Act'.

What does DEFINITIONS. of GUARD Act do?

This section defines terms used in the Act. Definitions include elder financial fraud, eligible federal grant funds, and general financial fraud. Other defined terms are pig butchering and scam.

What does FEDERAL GRANTS USED FOR INVESTIGATING ELDER FINANCIAL FRAUD, of GUARD Act do?

This section allows State, local, and Tribal law enforcement agencies receiving eligible Federal grant funds to use those funds for investigating elder financial fraud, pig butchering, and general financial fraud. Permissible uses of funds include hiring personnel, providing specialized training, obtaining technical tools, and encouraging improved data collection. Training must cover coordination between agencies, assisting victims, and utilizing blockchain intelligence tools as identified in the Critical and Emerging Technology List. Law enforcement agencies are required to designate a financial sector liaison to facilitate information sharing with financial institutions. Agencies utilizing funds must submit a report to the Federal grant provider within one year, detailing fund usage, relevant statistics, and an assessment of deterrence efforts.

What does REPORT ON GENERAL FINANCIAL FRAUD, PIG BUTCHERING, AND ELDER of GUARD Act do?

This section requires a report on financial fraud efforts and recommendations The report must be submitted to Congress within a year of enactment The report covers general financial fraud, pig butchering, elder financial fraud, and scams

What does REPORT ON THE STATE OF SCAMS IN THE UNITED STATES. of GUARD Act do?

This section mandates a report to Congress on the state of scams in the United States. The report, due within two years of the Act's enactment, must be submitted by the Secretary of the Treasury and the Director of the Financial Crimes Enforcement Network, in consultation with other agencies. The report must estimate the number of financial fraud scams, including pig butchering and elder financial fraud, against American consumers annually, differentiating between attempted and successful scams. It requires estimates of consumer losses, the percentage of scams attributed to overseas actors and organized crime, and scams involving impersonation of phone numbers. The report also needs to estimate the number of synthetic identities impersonating American consumers. The report must provide an overview of federal enforcement actions against recipients of scam proceeds, including the number of actions, their effectiveness, and types of penalties and relief. It requires identification of funds allocated and spent by various agencies to address financial fraud. The Secretary of the Treasury is directed to solicit public comments from consumers and relevant companies when preparing the report.

What does REPORT TO CONGRESS. of GUARD Act do?

Federal agencies must issue annual reports to Congress Reports contain information from law enforcement agencies Reports are submitted to specific House and Senate committees

What does FEDERAL LAW ENFORCEMENT AGENCIES ASSISTING STATE, LOCAL, AND of GUARD Act do?

This section authorizes federal law enforcement agencies to assist state, local, and tribal law enforcement agencies and fusion centers. The assistance provided involves the use of tracing tools for blockchain and related technology.

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GUARD Act

Last updated: 6/24/2026 · Introduced: 4/21/2025

Author: Zachary Nunn (R-IA)

TL;DR (AI)

The GUARD Act allows state, local, and tribal law enforcement agencies to use federal grant funds to investigate elder financial fraud, pig butchering, and general financial fraud, including training and technical tools.
The bill mandates two reports to Congress: one within a year detailing fraud investigation efforts and another within two years estimating the scope and impact of scams affecting American consumers.
Federal law enforcement agencies are authorized to assist state, local, and tribal agencies in tracing financial transactions using blockchain technology.

119th Congressin committeeS. 2544(In Committee)Official page

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Includes provisions on preamble, short title., and 6 more.

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