GUARD Act

Key Points

• This bill, introduced by Congress, allows local, state, and tribal police to use federal grant money to investigate financial crimes. It specifically targets 'pig butchering'—a scam where someone builds trust with a victim before tricking them into a fake investment—and other frauds that target senior citizens.
• Police departments could use these funds to hire specialized fraud experts and buy new software to track stolen money. It also provides training for officers on how to handle complex digital crimes and how to better support victims who have lost their savings.
• The policy makes it easier for federal agencies to share high-tech tools with local police. This includes technology used to track cryptocurrency and other digital assets, helping local officers catch scammers who often operate from far away or use confusing technology to hide.
• To ensure the program is working, police departments must report back on how they used the money and whether it helped lower fraud rates in their area. The Treasury Department would also be required to give Congress a full report on how many Americans are being scammed and the total amount of money being lost each year.

Votes

No votes have been recorded for this legislation yet.