GUARD Act
- Bill Number
- S. 2544
- Origin Chamber
- Senate
- Congress
- 119th Congress, Session 1
- Policy Area
- Crime and Law Enforcement
- Status
- Introduced
- Latest Action
- 2026-02-09: Placed on Senate Legislative Calendar under General Orders. Calendar No. 317.
- Last Updated
- 2026-07-10T18:19:54Z
AI-Generated Summary
Purpose The GUARD Act permits State, local, and Tribal law enforcement agencies and certain grantees to apply eligible Federal grant funds toward investigations of elder financial fraud, pig butchering, and general financial fraud. It also clarifies that Federal law enforcement agencies may assist State, local, and Tribal agencies with blockchain and related tracing tools. The bill addresses rising financial scams targeting vulnerable populations through expanded funding flexibility and improved intergovernmental coordination.
Key Provisions
- Definitions establish clear terms for elder financial fraud, pig butchering, general financial fraud, scams, and eligible Federal grant funds drawn from existing programs such as the Economic, High-Technology, White Collar, and Internet Crime Prevention National Training and Technical Assistance Program, COPS Technology and Equipment Program, and others.
- Section 3 allows grant recipients to use funds for hiring analysts and experts, specialized training on financial investigations and emerging technologies, acquiring software tools, improving data collection, conducting tabletop exercises with financial institutions, and designating financial sector liaisons.
- Grantees must submit reports within one year detailing fund usage, local fraud statistics, and the impact on deterrence.
- Section 4 requires the Secretary of the Treasury and FinCEN, in consultation with the Attorney General and others, to submit a report within one year on efforts and recommendations regarding these fraud types.
- Section 5 mandates a comprehensive two-year report estimating scam volumes, consumer losses, overseas involvement, enforcement actions, and agency expenditures, with public comment solicited from consumers and industry.
- Section 6 directs annual congressional reports summarizing grantee activities.
- Section 7 explicitly authorizes Federal assistance to State, local, and Tribal agencies and fusion centers in using blockchain tracing tools.
Significant Changes to Existing Law The Act expands permissible uses of funds under listed grant authorities (previously focused on intellectual property, white-collar crime, and technology programs) to explicitly include elder financial fraud, pig butchering, and general financial fraud investigations. It introduces new reporting obligations and clarifies Federal authority to provide blockchain tracing support, removing potential ambiguity in existing statutes.
Potential Impacts
- Government agencies: Increases administrative and reporting burdens on Federal grant providers and law enforcement while enhancing investigative capacity and interagency coordination.
- Citizens: May improve detection and prosecution of scams, particularly those affecting elderly individuals and those involving cryptocurrency, potentially reducing financial losses.
- International relations: Indirect effects possible through better tracking of transnational fraud involving overseas actors, though the bill does not create new international obligations.
Main Stakeholders Affected
- State, local, and Tribal law enforcement agencies and fusion centers
- Federal agencies including the Department of Justice, Treasury, FinCEN, DHS, and banking regulators
- Elderly individuals and other victims of financial fraud
- Financial institutions and nonbank entities required to coordinate on fraud prevention
- Congress, through required reporting
Notable Legal, Constitutional, or Political Implications The legislation operates within existing grant and law enforcement authorities without apparent constitutional conflicts. It reflects bipartisan support and focuses on adapting Federal resources to emerging technologies like blockchain without altering underlying criminal statutes.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Cosponsors (11)
Sen. Gillibrand, Kirsten E. [D-NY], Sen. Scott, Rick [R-FL], Sen. Lankford, James [R-OK], Sen. Warnock, Raphael G. [D-GA], Sen. Coons, Christopher A. [D-DE], Sen. Klobuchar, Amy [D-MN], Sen. Moody, Ashley [R-FL], Sen. Grassley, Chuck [R-IA], Sen. Cruz, Ted [R-TX], Sen. King, Angus S., Jr. [I-ME], Sen. Sullivan, Dan [R-AK]
Recent Actions
- 2026-02-09: Placed on Senate Legislative Calendar under General Orders. Calendar No. 317.
- 2026-02-09: Committee on the Judiciary. Reported by Senator Grassley without amendment. Without written report.
- 2026-02-09: Committee on the Judiciary. Reported by Senator Grassley without amendment. Without written report.
- 2026-02-05: Committee on the Judiciary. Ordered to be reported without amendment favorably.
- 2025-07-30: Read twice and referred to the Committee on the Judiciary.
- 2025-07-30: Introduced in Senate
Bill Versions
- Guarding Unprotected Aging Retirees from Deception Act — issued 2025-07-30 — PDF (11 pages)
- Guarding Unprotected Aging Retirees from Deception Act — issued 2026-02-09 — PDF (12 pages)