Sponsors (12)
Introduced July 30, 2025 by Katie Boyd Britt · Last progress July 30, 2025
The bill improves detection, investigation, and interagency coordination against modern crypto-enabled and elder scams—boosting law‑enforcement capacity and public data—while increasing federal costs, administrative burdens, and privacy/sovereignty risks that could produce uneven access and potential overreach.
State, local, and Tribal law enforcement (and prosecutors) can hire analysts, obtain training, and access forensic and blockchain-tracing tools so they can better detect, investigate, and prosecute elder- and crypto-enabled financial fraud.
Federal consolidation of reports, designated financial-sector liaisons, and required reporting to Congress will improve coordination and information-sharing between law enforcement, regulators, and financial institutions, speeding investigations and making grant use more transparent.
Seniors, people with disabilities, and other consumers will benefit from clearer statutory definitions of modern scams (e.g., 'pig butchering', electronic misrepresentation) and tailored public-awareness/prevention campaigns addressing crypto and online social‑engineering threats.
Taxpayers and budgets will likely face higher federal spending and ongoing administrative costs because grants are expanded, agencies must prepare annual reports, and staff time will be required to implement and oversee programs.
Expanded use of advanced investigative tools, blockchain tracing, and broader data-sharing and reporting raises privacy and civil‑liberties risks (increased surveillance and potential exposure of victims or sensitive investigatory details).
Broad statutory definitions of fraud and 'scam' risk overreach or uneven enforcement that could capture legitimate conduct or create legal uncertainty for businesses and consumers.
Based on analysis of 7 sections of legislative text.
Allows state, local, and tribal law enforcement to use specified federal grant funds to investigate elder and other financial frauds, adds reporting requirements, and directs federal scams reporting to Congress.
Allows State, local, and Tribal law enforcement and grant recipients to use specified existing federal grant funds to investigate and respond to elder financial fraud, “pig butchering,” and other financial scams. Requires recipients who use those funds to report back to the grant provider within one year about how the funds were used and the fraud trends they see. Directs the Treasury and FinCEN (with consultations) to prepare a joint report to Congress within one year and a more detailed nationwide scams report within two years, requires federal grant-making agencies to produce annual reports to Congress based on grantee submissions, and authorizes federal law enforcement to assist with blockchain tracing and related technical tools.