Bill > S2544

This bill, known as the GUARD Act (Guarding Unprotected Aging Retirees from Deception Act), aims to bolster efforts against financial fraud, particularly targeting seniors and other vulnerable populations. It allows state, local, and tribal law enforcement agencies, as well as organizations receiving specific federal grants (referred to as "eligible Federal grant funds"), to use these funds for investigating various types of fraud, including "elder financial fraud" (the illegal use of an elderly person's or adult with a disability's resources for personal gain), "pig butchering" (a complex investment scam where victims are gradually lured into larger contributions before the scammer disappears with the money, often involving cryptocurrency), and "general financial fraud" (which includes intentional misrepresentation, unlawful use of financial cards, or using electronic means to deceive). The bill also clarifies that federal law enforcement agencies can help state, local, and tribal agencies use tracing tools for blockchain and related technologies to combat these crimes. Furthermore, the bill mandates reports from various government entities to Congress detailing the scope of these financial crimes, the effectiveness of enforcement actions, and the resources allocated to combat them, with the goal of improving coordination and data collection to better protect consumers from scams.

Justice

https://www.congress.gov/bill/119th-congress/senate-bill/2544/all-info