What does Preamble of GUARD Act do?

This bill allows State, local, and Tribal law enforcement agencies and grantees receiving Federal grant funds to use those funds for investigating elder financial fraud, pig butchering, and general financial fraud. The bill clarifies that Federal law enforcement agencies can assist State, local, and Tribal agencies in using tracing tools for blockchain and related technology.

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 key terms used throughout the Act. “Elder financial fraud” is defined as the illegal or improper use of an elderly individual or adult with a disability's resources for monetary or personal gain. “Eligible federal grant funds” include funds received under specific programs, such as the Economic, High-Technology, White Collar, and Internet Crime Prevention National Training and Technical Assistance Program, the Justice Information Sharing Training and Technical Assistance Program, the Violence Against Women Act Reauthorization Act of 2022, and the Omnibus Crime Control and Safe Streets Act of 1968. “General financial fraud” involves intentional misrepresentation, unlawful use of payment cards, or using electronic means to transmit deceptive information. “Pig butchering” is defined as a confidence and investment fraud involving gradual monetary contributions, often in cryptocurrency. A “scam” is a financial crime using social engineering to acquire access to funds or sensitive information. “State” is defined to include the several States, the District of Columbia, and each territory of the United States.

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

This section allows state, local, and Tribal law enforcement agencies and grantees 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 training, obtaining technical tools, and encouraging data collection and reporting. Training must include coordination between agencies, assistance to victims, and use of blockchain intelligence tools related to technologies listed in the February 2024 Critical and Emerging Technology List. The section encourages coordination and communication between financial institutions and law enforcement agencies. Agencies must designate a financial sector liaison for information sharing. Agencies using funds must submit a report to the Federal agency providing the grant, detailing fund usage, relevant statistics, and an assessment of their ability to deter fraud.

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

This section requires a report to Congress on efforts and recommendations related to general financial fraud, pig butchering, elder financial fraud, and scams. The report must be submitted within one year of the Act's enactment. The Secretary of the Treasury, the Director of the Financial Crimes Enforcement Network, and other agencies will jointly prepare the report. Consultation will occur with the Attorney General, the Secretary of Homeland Security, and appropriate Federal banking and functional regulators.

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

This section requires a report to Congress on the state of scams in the United States. The report must be submitted within two years of the Act's enactment 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, and the associated consumer losses. It must also estimate the percentage of scams attributable to overseas actors and organized crime. The report needs to provide an overview of federal enforcement actions against recipients of scam proceeds, including their effectiveness and types of penalties. The report must identify funding amounts made available and expended to address these scams by various federal agencies. The Secretary of the Treasury is required to solicit public comments from various entities, including consumers, social media companies, and financial institutions, when preparing the report.

What does REPORT TO CONGRESS. of GUARD Act do?

Federal agencies providing grant funds must issue annual reports Reports are submitted to specified Senate and House committees Reports contain information from law enforcement agencies under section 3(b)

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

This bill permits State, local, and Tribal law enforcement agencies and grantees receiving Federal grant funds to use those funds to investigate elder financial fraud, pig butchering, and general financial fraud. Federal law enforcement agencies are authorized to assist State, local, and Tribal law enforcement agencies in using tracing tools for blockchain and related technology. The bill clarifies the ability of these agencies to utilize Federal grant funds for financial fraud investigations.

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GUARD Act

Last updated: 2/9/2026 · Introduced: 7/30/2025

Author: Katie Britt (R-AL)

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.
Federal law enforcement agencies are authorized to assist state, local, and tribal agencies in tracing blockchain and related technologies used in financial crimes.
The bill mandates a report to Congress within one year detailing efforts and recommendations to combat general financial fraud, pig butchering, and elder financial fraud.
A comprehensive report to Congress, due within two years, will assess the state of scams in the U.S., including estimates of losses, overseas involvement, and the effectiveness of federal enforcement actions.
Agencies using federal grant funds for fraud investigation must submit annual reports detailing fund usage, statistics, and their ability to deter fraud.

119th Congressin committeeHR. 2978(In Committee)Official page

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

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