In committee
GUARD Act
This bill allows state, local, and Tribal police departments to use existing federal grant funds to investigate elder financial exploitation, cryptocurrency investment scams, and other fraud. Agencies can spend this money to hire specialized investigators, purchase blockchain tracing software, and partner more closely with banks to protect victims and recover stolen assets. Additionally, federal agencies are authorized to help local officers trace digital assets and must deliver comprehensive reports to Congress on the financial damage scams cause nationwide.
People affected—Not determinable from the text; applies to eligible state, local, and tribal law enforcement grantees and federal agencies.
Fiscal magnitude—CBO cost estimate published (H.R. 2978, GUARD Act of 2026, 2026-06-18); dollar figure pending review extraction — see receipt
Reach25provisional · pending reviewrigor: heuristic llm
What this bill touches.
Market protections+22Policing & funding−25
Who it helps · who it burdens.
Who it helps
- State, local, and tribal law enforcement agenciesUnder Section 3(a) and Section 7, state, local, and tribal law enforcement agencies gain authorization to spend certain federal grant funds on elder fraud, pig butchering, and financial fraud investigations (including hiring staff, buying software, and receiving blockchain training), and may receive direct technical assistance from federal law enforcement.
Who it burdens
- State, local, and tribal law enforcement agencies using grant fundsUnder Section 3(b), any state, local, or tribal law enforcement agency that uses eligible federal grant funds for fraud investigations must prepare and submit a detailed report within one year to the granting federal agency regarding fund usage, fraud statistics, and deterrence capability.
- Department of the Treasury and Financial Crimes Enforcement Network (FinCEN)Under Sections 4, 5(a), and 5(b), the Department of the Treasury and FinCEN must solicit public comments and draft two major reports to Congress assessing fraud trends, enforcement actions, agency spending, and recommendations.
- Federal grant-making agenciesUnder Section 6, federal agencies that distribute the specified eligible grant funds must submit annual reports to congressional committees compiling the data received from participating state, local, and tribal law enforcement agencies.
Who backs it
- Department of Justice grant programsUnder Section 2(2) and Section 3(a), existing federal grant programs (including Department of Justice technology, training, and cybercrime grant programs) are used to finance the expanded local fraud investigation activities and equipment.