GUARD Act
Latest Action
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-709, Part I.
Official Summary
Guarding Unprotected Aging Retirees from Deception Act of 2026 or the GUARD Act of 2026 This bill allows state, local, and tribal law enforcement agencies and grantees that receive funds from certain law enforcement grant programs to use the funds to investigate general financial fraud, elder financial fraud, and pig butchering. Pig butchering refers to a confidence and investment fraud in which a victim is gradually lured into transferring increasing amounts of money, generally in the form of cryptocurrency, into a fake virtual investment. The bill allows federal law enforcement agencies to assist state, local, and tribal law enforcement agencies and fusion centers in the use of tracing tools for blockchain and related technology tools. Finally, the bill requires the Financial Crimes Enforcement Network (FinCEN) to report on efforts to combat general financial fraud, elder financial fraud, pig butchering, and scams, including an evaluation of any legislative recommendations to improve the efforts. The bill also requires FinCEN to report on the state of general financial fraud, elder financial fraud, pig butchering, and scams in the United States, including trends in the crimes.
GovScope Watchdog™
AI Government Intelligence™The GUARD Act of 2026 enables state, local, and tribal law enforcement agencies that receive certain federal law enforcement grants to use those funds to investigate various types of financial fraud, including elder financial fraud and a specific scam known as pig butchering, which involves victims being tricked into transferring cryptocurrency to fraudulent virtual investments. The bill also authorizes federal law enforcement to assist these agencies and fusion centers with blockchain tracing tools. Additionally, it mandates the Financial Crimes Enforcement Network (FinCEN) to report on efforts to combat these frauds and scams, including legislative recommendations and crime trends in the United States.
The GUARD Act expands the scope of federally funded law enforcement efforts to include elder financial fraud and pig butchering scams, while enhancing federal support and requiring FinCEN to provide detailed reporting on these crimes.
- Allows use of certain federal law enforcement grant funds by state, local, and tribal agencies to investigate general financial fraud, elder financial fraud, and pig butchering scams.
- Permits federal law enforcement agencies to assist with blockchain and related technology tracing tools to support investigations.
- Requires FinCEN to report on the state of these financial crimes, efforts to combat them, and any legislative recommendations for improvement.
['State, local, and tribal law enforcement agencies receiving relevant federal grants', 'Federal law enforcement agencies involved in financial crime investigations', 'Financial Crimes Enforcement Network (FinCEN) through mandated reporting', 'Potential victims of elder financial fraud and pig butchering scams']
['Implementation challenges related to coordinating federal assistance with state, local, and tribal agencies in using advanced blockchain tracing tools', 'Potential costs associated with expanded investigative activities and reporting requirements', 'Oversight mechanisms for ensuring appropriate use of grant funds for these expanded purposes are not detailed in the summary', 'The bill text is not provided, limiting full assessment of enforcement language or specific authority expansions']
The bill was introduced in the House during the 119th Congress and has been reported (amended) by the House Committee on Financial Services as of June 24, 2026. It addresses growing concerns about financial fraud targeting vulnerable populations, including elder fraud and emerging scams involving cryptocurrency. The policy area is categorized under Crime and Law Enforcement, reflecting a legislative focus on enhancing tools and resources for combating financial crimes.
Hidden impact flags detected: 2
GovScope reviewed 2 policy-risk categories. Hover for a quick definition. Click detected flags for bill-specific details.
['Increased use of blockchain tracing technology may lead to broader adoption of such tools in financial crime investigations beyond the specified fraud types.', 'Enhanced federal support could encourage more state, local, and tribal agencies to prioritize elder financial fraud and pig butchering scams.', 'FinCEN’s reporting may influence future legislative or regulatory actions based on identified trends and recommendations.']
The full bill text is not available, which limits the ability to assess specific enforcement provisions, funding mechanisms, or detailed oversight structures. Transparency regarding how grant funds will be monitored for appropriate use in expanded investigative activities is important for accountability. The mandated FinCEN reports provide a mechanism for ongoing oversight and evaluation of efforts to combat financial fraud and scams.
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