Bill > HR2978

This bill, known as the "Guarding Unprotected Aging Retirees from Deception Act" or "GUARD Act", aims to help law enforcement combat financial fraud targeting vulnerable populations. The bill allows state, local, and tribal law enforcement agencies receiving specific federal grant funds to use those funds to investigate elder financial fraud, "pig butchering" (a type of cryptocurrency investment scam), and general financial fraud. Agencies can use the funds for hiring personnel, providing specialized training, obtaining investigative tools, improving data collection, and creating communication channels with financial institutions. The bill defines key terms like financial fraud and scams, and requires recipients of these grant funds to submit annual reports detailing how they used the funds and their impact on fraud prevention. Additionally, the bill mandates two comprehensive reports to Congress: one from the Treasury and Financial Crimes Enforcement Network on financial fraud efforts and recommendations, and another providing a detailed analysis of scams in the United States, including estimates of financial losses, enforcement actions, and the involvement of overseas actors and organized crime. The bill also explicitly permits federal law enforcement agencies to assist state, local, and tribal agencies in using blockchain tracing tools for investigations.

Justice

https://www.congress.gov/bill/119th-congress/house-bill/2978/all-info