GUARD Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Overview
The GUARD Act allows state, local, and Tribal law enforcement agencies, as well as those receiving federal grants, to use those funds to investigate elder financial fraud, pig butchering, and general financial fraud. It clarifies that federal law enforcement can assist in using tracing tools for blockchain technology. The bill also requires agencies to report on their use of funds and directs federal agencies to submit a comprehensive report to Congress on the scope and impact of these types of scams across the United States.
Key provisions
- Allows law enforcement to use federal grant funds for investigating elder financial fraud, pig butchering, and general financial fraud.
- Clarifies federal law enforcement’s ability to assist with blockchain tracing tools.
- Requires agencies receiving eligible federal grant funds to submit reports detailing their use of funds and impact on fraud statistics.
- Directs federal agencies to produce a report to Congress on the state of scams in the U.S., including financial losses and trends.
- Mandates the solicitation of public comment from various stakeholders in the report on scams.
- Requires annual reports from federal agencies providing grant funds to Congress.
- Defines key terms like ‘elder financial fraud,’ ‘pig butchering,’ and ‘general financial fraud.’
Who is affected
- State and Local Law Enforcement Agencies
- Tribal Law Enforcement Agencies
Bill text
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Sponsors
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