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September 14, 2026
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Download official House Record PDFReturn to issue contextMs. DE LA CRUZ. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 2978) to permit State, local, and Tribal law enforcement agencies 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, as amended.
The Clerk read the title of the bill.
The text of the bill is as follows:
H.R. 2978
Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Guarding Unprotected Aging
Retirees from Deception Act of 2026” or the “GUARD Act of
2026”.
SEC. 2. DEFINITIONS.
In this Act:
(1) Elder financial fraud.—The 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.
SEC. 3. FEDERAL GRANTS USED FOR INVESTIGATING ELDER FINANCIAL
FRAUD, PIG BUTCHERING, AND GENERAL FINANCIAL
FRAUD.
(a) In General.—State, 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 Provider.—Each 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.
SEC. 4. REPORT ON GENERAL FINANCIAL FRAUD, PIG BUTCHERING,
AND ELDER FINANCIAL FRAUD.
No later than a year after the date of the enactment of
this Act, the Secretary of the Treasury, acting through the
Director of the Financial Crimes Enforcement Network, and in
consultation with the Attorney General, the Secretary of
Homeland Security, and the appropriate Federal banking
agencies and Federal functional regulators, shall submit to
Congress a report on efforts to combat general financial
fraud, pig butchering, elder financial fraud, and scams,
including an evaluation of, and any legislative
recommendations to improve, the efficacy of the efforts.
SEC. 5. REPORT ON THE STATE OF SCAMS IN THE UNITED STATES.
Not later than 2 years after the date of enactment of this
Act, and two years thereafter, the Secretary of the Treasury,
acting through the Director of the Financial Crimes
Enforcement Network, shall submit a report to Congress on the
state of financial fraud, pig butchering, elder financial
fraud, and scams, based on information available to the
Financial Crimes Enforcement Network, that—
(1) relies on information reported to or otherwise
available to the Financial Crimes Enforcement Network;
(2) analyzes trends in suspected financial fraud, pig
butchering, elder financial fraud, and scams, as reflected in
reports filed under subchapter II of chapter 53 of title 31,
United States Code (commonly referred to as the “Bank
Secrecy Act”), including—
(A) the volume of relevant reports;
(B) the aggregate dollar amount associated with the
reports;
(C) typologies and methods identified through the reports;
and
(D) the role of digital assets in the reports; and
(3) summarizes activities conducted in cooperation with law
enforcement, including the Rapid Response Program, during the
period covered by the report, including—
(A) the number of referrals received from law enforcement;
(B) the aggregate dollar amount of funds for which
interdiction was sought;
(C) the aggregate dollar amount of funds successfully
interdicted or recovered; and
(D) any limitations affecting the activities, including
limitations arising from reliance on law enforcement
referrals.
SEC. 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 Committee on
Banking, Housing, and Urban Affairs of the Senate, the
Committee on Financial Services of the House of
Representatives, the Committee on the Judiciary of the
Senate, and the Committee on the Judiciary of the House of
Representatives containing the information received from law
enforcement agencies under section 3(b).
SEC. 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.
The SPEAKER pro tempore. Pursuant to the rule, the gentlewoman from Texas (Ms. De La Cruz) and the gentleman from California (Mr. Sherman) each will control 20 minutes.
The Chair recognizes the gentlewoman from Texas.
General Leave
Ms. DE LA CRUZ. Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days to revise and extend their remarks and to include extraneous material on this bill.
The SPEAKER pro tempore. Is there objection to the request of the gentlewoman from Texas?
There was no objection.
Ms. DE LA CRUZ. Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, I note that although H.R. 2978 has not been reported out of Judiciary Committee, which also received a referral for the bill, the Judiciary Committee supports H.R. 2978 being considered today under suspension of the rules. I thank Chairman Jordan for his committee's support.
Mr. Speaker, I rise today in support of H.R. 2978, the Guarding Unprotected Aging Retirees from Deception Act, or GUARD Act.
hardworking Americans, particularly seniors and retirees who have spent decades saving for the future. Today, sophisticated scammers are using technology to target vulnerable Americans through increasingly complex schemes.
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and Tribal law enforcement agencies to use existing Federal grant funding to investigate financial fraud.
investigative tools by allowing Federal agencies to assist State and local authorities with blockchain tracing and related technologies. These tools can help law enforcement follow the money, identify bad actors, and recover funds that have been stolen from victims.
law enforcement agencies must have the tools and information necessary to keep pace.
coordination between Federal, State, local, and Tribal law enforcement, while providing the resources needed to investigate and disrupt financial fraud.
retirees who have worked hard their entire lives and deserve to be protected from predatory actors.
Mr. Speaker, I urge my colleagues to support H.R. 2978, and I reserve the balance of my time.
Mr. SHERMAN. Mr. Speaker, I yield myself such time as I may consume.
I rise in support of H.R. 2978, the GUARD Act, sponsored by Representatives Nunn and Gottheimer. The GUARD Act would allow State, local, and Tribal law enforcement agencies to tap into certain Federal grant programs to support investigations into senior fraud, romance scams, and general financial fraud.
and local law enforcement with tracing tools for blockchain technology. This bill is particularly important because blockchain technology, cryptocurrency, is so often used in scams, and it is the Federal Government that has the best chance—and it is only a chance—of using technology to defeat the scams and to hold those responsible accountable.
and this bill is part of that reaction. This is a sensible bill that will help Americans who are losing literally billions of dollars to fraudsters and scammers.
Democratic Caucus that should be addressed. That is the potential misinterpretation or misuse of this bill to allow agencies to siphon funds from defined grant programs for unrelated purposes.
Against Women Act, VAWA, which allows grants to nonprofits and local governments to provide support for victims of domestic violence and sexual abuse.
have no intent to deny grants or reduce grants to address domestic violence and sexual assault. This bill is not meant to be a way for the President to raid those funds.
where GUARD Act activities overlap with the existing grant programs, such as where the victim of domestic violence is also the target of a romance scam.
I stress again that when the bill says “eligible Federal grant funds,” no Member voting on this bill intends to ignore or change the purpose of existing Federal grant programs from which the GUARD Act draws.
language that makes it clear that VAWA and this bill's other programs are intended to combat financial fraud and abuse within the bounds of the grant programs that are listed.
Mr. Speaker, with these concerns about our intent to fix the text of the bill noted, I urge colleagues to support this bill, and I reserve the balance of my time.
Ms. DE LA CRUZ. Mr. Speaker, I yield 5 minutes to the gentleman from Iowa (Mr. Nunn), the sponsor of this bill.
Mr. NUNN of Iowa. Mr. Speaker, every family is now impacted by this. Every American knows someone who has come into contact with an AI fraud, a pig butchering scheme, a romance theft.
life savings of people in our own communities, and the local officers who answer those calls oftentimes can't even do anything about it. The money moves through digital currencies, including crypto, faster than anyone can even trace it. By the time a deputy who answers the call files a report, the life savings of that family, individual, or loved one is gone.
of all places. A farmer in Wapello County was targeted through social media by an account posing as a Russian model. Over months, this Russian woman began to earn his trust and then took him for $1 million, including farm equipment that he had to mortgage.
Over months, the people behind it further earned his trust. When they realized that he had money on his farm, in cash, they hired mercenaries on U.S. soil to drive from New York to a rural farmhouse in Iowa, where, when he refused to give up his cash, they opened fire on him. Due to this smart-thinking farmer locking himself in his barn and calling local law enforcement, his life was spared. His monetary loss was immeasurable.
agents. They arrested the men who showed up that day. Out of the three, they were able to keep one. The other two ended up getting away. The people who ran the schemes, the real perpetrators of this, were far overseas. They still haven't answered for a single dollar of the more than $1 million that this farmer lost.
This is no longer a rare story. In Iowa alone last year, families lost $96 million to these types of frauds, and Americans lost as much as $200 billion. To put that in another context, the entire budget for the U.S. Army is gone in 1 year, mainly to foreign actors committing fraud on U.S. citizens. Those citizens are retirees, farmers, and families.
This is now the number one financial crime impacting families. That is why, 2 years ago, I brought together Iowa sheriffs, investigators, and local detectives and asked them what they needed to combat this rising number of scams and fraudsters targeting our communities. I am proud to say that their best ideas are now in the process of potentially becoming law with this bill, the GUARD Act.
criminals who are using cutting-edge technology, but we are still dealing with it built from a different era. The moment that their money crosses a State line or an ocean, they hit a wall that only the Federal Government can help them climb.
This bill aims to fix that. That is why our bipartisan bill, the GUARD Act, brings together real solutions and puts legislation in place for real-time tracing tools, including blockchain tracking, as well as Federal backup when these things happen, so that we can combat it on the front line before it becomes a national catastrophe.
It helps not only my State and local law enforcement. It helps the deputy who is just trying to help a community member follow up, identify the money, and stop it before it leaves the district or the country. Most importantly, it goes after the people running these scams.
enforcement, veterans groups, and other advocates who brought these ideas forward. This is exactly what Congress should be doing: taking and hearing concerns from our local communities and distilling them into a law that can actually help save money, save lives, and, most importantly, help people right here in our own country.
Mr. Speaker, I thank colleagues on both sides of the aisle for their support of the GUARD Act.
Mr. SHERMAN. Mr. Speaker, I have no further speakers, and I am prepared to close if the gentlewoman from Texas also has no further speakers.
Ms. DE LA CRUZ. Mr. Speaker, I yield 2 minutes to the gentleman from Pennsylvania (Mr. Meuser).
Mr. MEUSER. Mr. Speaker, I acknowledge and thank the leadership of Congresswoman De La Cruz for seeing this bill through and my colleague, Congressman Nunn, because, as he stated, the level of importance of this is vast.
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Mr. Speaker, I strongly support H.R. 2978, the GUARD Act. For well over a year, the Oversight and Investigations Subcommittee, which I chair, has led in-depth investigations into the growing prevalence of fraud and scams.
meetings with private industry, law enforcement, and regulators to investigate the problem and find solutions.
growth of financial fraud and scams in the U.S. Shockingly, or not so shockingly, we found that Americans lost well over $16 billion which was reported in these schemes in 2025 alone, and truly the toll was closer to well over $200 billion, as has been mentioned.
Financial fraud picks no favorites. Scams affect everyone from veterans and small businesses to seniors to young people. Everybody is vulnerable.
address financial fraud and scams, including the passage of this bill, the GUARD Act. The important legislation addresses many of the issues we identified in equipping law enforcement with the tools necessary to combat sophisticated criminals. They are sophisticated.
Mr. Speaker, I thank Representative Nunn for his hard work to stop fraud and scams, and I thank Chairman Hill of the Financial Services Committee for his strong leadership as well.
Mr. Speaker, I urge and thank my colleagues on the other side of the aisle for their support.
Mr. SHERMAN. Mr. Speaker, I yield myself the balance of my time.
Mr. Speaker, the GUARD Act allows State, local, and Tribal law enforcement agencies to use certain Federal grant programs to investigate senior financial fraud, romance schemes, and general financial fraud.
reiterate. The first is that crypto has facilitated frauds and scams, and it is necessary that we give law enforcement the tools to react to that. The second is that while this is a very worthwhile bill, we do need to clarify that the GUARD Act overlaps and augments, doesn't steal from, the funds mentioned in the bill. It can help victims and survivors of domestic violence, among others, as they are targeted by fraudsters and scammers.
Mr. Speaker, I urge my colleagues to support the bill, and I yield back the balance of my time.
Ms. DE LA CRUZ. Mr. Speaker, I yield myself the balance of my time.
Mr. Speaker, for the reasons I explained earlier, I urge my colleagues to support this bill, and I yield back the balance of my time.
The SPEAKER pro tempore. The question is on the motion offered by the gentlewoman from Texas (Ms. De La Cruz) that the House suspend the rules and pass the bill, H.R. 2978, as amended.
The question was taken.
The SPEAKER pro tempore. In the opinion of the Chair, two-thirds being in the affirmative, the ayes have it.
Ms. DE LA CRUZ. Mr. Speaker, on that I demand the yeas and nays.
The yeas and nays were ordered.
The SPEAKER pro tempore. Pursuant to clause 8 of rule XX, further proceedings on this motion will be postponed.