GUARD Act

This bill lets State, local, and Tribal police use existing federal grant money to fight financial scams, including those that target older adults and a scheme called “pig butchering” (where scammers slowly gain trust and push victims to invest, often in crypto, before disappearing) . Departments can spend funds to hire staff, get software and tools, train on complex cases and blockchain tracing, improve data sharing, run joint exercises with banks, and set up a point person to work with financial institutions on active fraud cases . Agencies that use these funds must report within a year how they used the money and how it affected fraud in their area .

The Treasury Department and FinCEN must deliver two reports to Congress: one within a year on efforts and recommendations to combat scams, and another within two years that estimates the scale of scams, losses, and who is behind them, and reviews enforcement actions across federal agencies . The bill also makes clear that federal law enforcement can help local agencies and fusion centers use blockchain tracing and related tools to track stolen funds .