119th Congress (2025-2026)

S 2544

GUARD Act

Passed Committee

Jurisdiction

US Congress

Session

119th Congress (2025-2026)

Official source

Chamber

Senate

Session

119th Congress (2025-2026)

Jurisdiction

US Congress

Bill 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’ scams, 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 scams across the United States.

Positions across the country

No public positions recorded for this legislation.

Arguments in favor

Reasons to support this legislation.

No arguments in favor have been submitted.

Submit yours

Arguments opposed

Reasons to oppose this legislation.

No arguments opposed have been submitted.

Submit yours

Legislative history

2025-07-30Senate

Read twice and referred to the Committee on the Judiciary.

2025-07-30

Introduced in Senate

2026-02-05Senate

Committee on the Judiciary. Ordered to be reported without amendment favorably.

2026-02-09Senate

Placed on Senate Legislative Calendar under General Orders. Calendar No. 317.

Read the latest version inline or switch to a previous version.

Jul 30, 2025XMLView source

119th CONGRESS — 1st Session

S. 2544

IN THE SENATE OF THE UNITED STATES

A BILL

To permit State, local, and Tribal law enforcement agencies and grantees that receive eligible Federal grant funds to use such funds for investigating elder financial fraud, pig butchering, and general financial fraud, and to clarify that Federal law enforcement agencies may assist State, local, and Tribal law enforcement agencies in the use of tracing tools for blockchain and related technology, and for other purposes.

1.Short title

This Act may be cited as the

Guarding Unprotected Aging Retirees from Deception Act

or the

GUARD Act

2.Definitions

In this Act:

(1)Elder financial fraudThe term elder financial fraud means the illegal or improper use of the money, property, or other resources of an elderly individual or adult with a disability for monetary or personal benefit, profit, or gain.

(2)Eligible Federal grant funds

The term eligible Federal grant funds means funds received under any of the following:

(A)Title IV of the Prioritizing Resources and Organization for Intellectual Property Act of 2008 (34 U.S.C. 30103 et seq.) (commonly known as the Economic, High-Technology, White Collar, and Internet Crime Prevention National Training and Technical Assistance Program), including relating to the use of technology to solve crimes and to facilitate prosecutions (commonly known as the Internet of Things (IoT) National Training and Technical Assistance Program).

(B)

Title 28, Code of Federal Regulations, part 23 (commonly known as Justice Information Sharing Training and Technical Assistance Program).

(C)Section 1401 of the Violence Against Women Act Reauthorization Act of 2022 (34 U.S.C. 30107) to a local law enforcement agency for enforcement of cybercrimes against individuals.

(D)Section 1701 title I of the Omnibus Crime Control and Safe Streets Act of 1968 (34 U.S.C. 10381), relating to developing and acquiring effective equipment, technologies, and interoperable communications that assist in responding to and preventing crime (commonly known as the COPS Technology and Equipment Program).

(3)General financial fraud

The term general financial fraud means, in order to obtain money or other things of value—

(A)intentional misrepresentation of information or identity to deceive an individual;

(B)unlawful use of a credit card, debit card, or automated teller machine; or

(C)use of electronic means to transmit deceptive information.

(4)Pig butchering

The term pig butchering means a confidence and investment fraud in which the victim is gradually lured into making increasing monetary contributions, generally in the form of cryptocurrency, to a seemingly sound investment before the scammer disappears with the contributed monies.

(5)Scam

The term scam means a financial crime undertaken through the use of social engineering that uses deceptive inducement to acquire—

(A)authorized access to funds; or

(B)

personal or sensitive information that can facilitate the theft of financial assets.

(6)State

The term State means each of the several States, the District of Columbia, and each territory of the United States.

3.Federal grants used for investigating elder financial fraud, pig butchering, and general financial fraud

(a)In generalState, local, and Tribal law enforcement agencies and grantees that receive eligible Federal grant funds may use such funds for investigating elder financial fraud, pig butchering, and general financial fraud, including by—

(1)

hiring and retaining analysts, agents, experts, and other personnel;

(2)

providing training specific to complex financial investigations, including training on—

(A)

coordination and collaboration between State, local, Tribal, and Federal law enforcement agencies;

(B)

assisting victims of financial fraud and exploitation;

(C)the use of blockchain intelligence tools and related capabilities relating to emerging technologies identified in the February 2024 Critical and Emerging Technology List Update of the Fast Track Action Subcommittee on Critical and Emerging Technologies of the National Science and Technology Council (the Critical and Emerging Technology List); and

(D)

unique aspects of fraud investigations, including transnational financial investigations and emerging technologies identified in the Critical and Emerging Technology List;

(3)

obtaining software and technical tools to conduct financial fraud and exploitation investigations;

(4)

encouraging improved data collection and reporting;

(5)

supporting training and tabletop exercises to enhance coordination and communication between financial institutions and State, local, Tribal, and Federal law enforcement agencies for the purpose of stopping fraud and scams; and

(6)

designating a financial sector liaison to serve as a point of contact for financial institutions to share and exchange with State, local, Tribal, and Federal law enforcement agencies information relevant to the investigation of fraud and scams.

(b)Report to grant providerEach law enforcement agency and grantee that makes use of eligible Federal grant funds for a purpose specified under subsection (a) shall, not later than 1 year after making such use of the funds, submit to the Federal agency that provided the eligible Federal grant funds, a report containing—

(1)

an explanation of the amount of funds so used, and the specific purpose for which the funds were used;

(2)statistics with respect to elder financial fraud, pig butchering, and general financial fraud in the jurisdiction of the law enforcement agency, along with an analysis of how the use of the funds for a purpose specified under subsection (a) affected such statistics; and

(3)an assessment of the ability of the law enforcement agency to deter elder financial fraud, pig butchering, and general financial fraud.

4.Report on general financial fraud, pig butchering, and elder financial fraud

Not later than 1 year after the date of enactment of this Act, the Secretary of the Treasury and the Director of the Financial Crimes Enforcement Network in consultation with the Attorney General, the Secretary of Homeland Security, and the appropriate Federal banking agencies and Federal functional regulators shall, jointly, submit to Congress a report on efforts and recommendations related to general financial fraud, pig butchering, elder financial fraud, and scams.

5.Report on the state of scams in the United States

(a)In general

Not later than 2 years after the date of enactment of this Act, the Secretary of the Treasury and the Director of the Financial Crimes Enforcement Network, in consultation with the Attorney General, the Secretary of Homeland Security, and the appropriate Federal banking agencies and Federal functional regulators, shall submit a report to Congress on the state of scams in the United States that—

(1)

estimates—

(A)

the number of financial fraud, pig butchering, elder financial fraud, and scams committed against American consumers each year, including—

(i)

attempted scams, including through social media, online dating services, email, impersonation of financial institutions and nonbank financial institutions; and

(ii)

successful scams, including through social media, online dating services, email, impersonation of financial institutions and nonbank financial institutions;

(B)

the number of consumers each year that lose money to 1 or more scams;

(C)

the dollar amount of consumer losses to scams each year;

(D)

the percentage of scams each year that can be attributed to—

(i)

overseas actors; and

(ii)

organized crime;

(E)

the number of attempted scams each year that involve the impersonation of phone numbers associated with financial institutions and nonbank financial institutions; and

(F)

an estimate of the number of synthetic identities impersonating American consumers each year;

(2)

provides an overview of the Federal civil and criminal enforcement actions brought against the recipients of the proceeds of financial fraud, pig butchering, elder financial fraud, and scams during the period covered by the report that includes—

(A)

the number of such enforcement actions;

(B)

an evaluation of the effectiveness of such enforcement actions;

(C)

an identification of the types of claims brought against the recipients of the proceeds of financial fraud, pig butchering, elder financial fraud, and scams;

(D)

an identification of the types of penalties imposed through such enforcement actions;

(E)

an identification of the types of relief obtained through such enforcement actions; and

(F)

the number of such enforcement actions that are connected to a Suspicious Activity Report; and

(3)

identifies amounts made available and amounts expended to address financial fraud, pig butchering, elder financial fraud, and scams during the period covered by the report by—

(A)

the Bureau of Consumer Financial Protection;

(B)

the Department of Justice;

(C)

the Federal Bureau of Investigation;

(D)

the Federal Communications Commission;

(E)

the Board of Governors of the Federal Reserve Board;

(F)

the Federal Trade Commission;

(G)

the Financial Crimes Enforcement Network;

(H)

the Securities and Exchange Commission; and

(I)

the Social Security Administration.

(b)Solicitation of public comment

In carrying out the report required under subsection (a), the Secretary of the Treasury shall solicit comments from consumers, social media companies, email providers, telecommunications companies, financial institutions, and nonbank financial institutions.

6.Report to Congress

Each Federal agency that provides eligible Federal grant funds that are used for a purpose specified under section 3(a) shall issue an annual report to the , the , the , and the containing the information received from law enforcement agencies under section 3(b).

7.Federal law enforcement agencies assisting State, local, and Tribal law enforcement and fusion centers

Federal law enforcement agencies may assist State, local, and Tribal law enforcement agencies and fusion centers in the use of tracing tools for blockchain and related technology tools.

S 2544

Bill overview

Sponsors

Primary sponsor

Cosponsors

Positions across the country

Arguments in favor

Arguments opposed

Bill text

Positions across the country

Bill overview

Sponsors

Primary sponsor

Cosponsors

Related bills

Positions across the country

Arguments in favor

Arguments opposed

Bill text

Positions across the country