S.Amdt. 6471

The amendment submitted by Mrs. Britt, known as the Guarding Unprotected Aging Retirees from Deception Act (or the GUARD Act), aims to add a section to bill S. 4784 focused on combating financial crimes.

The purpose of this amendment is to allow State, local, and Tribal law enforcement agencies to use eligible Federal grant funds to investigate the following:

• Elder financial fraud
• Pig butchering
• General financial fraud

The amendment specifies that these funds can be used for hiring personnel, providing specialized training (including blockchain intelligence and transnational investigations), obtaining technical tools, improving data collection, and enhancing communication between law enforcement and financial institutions.

To ensure accountability, the amendment requires:

• Law enforcement agencies using these funds to submit a report to the granting Federal agency within one year.
• The Secretary of the Treasury and the Director of the Financial Crimes Enforcement Network to provide reports to Congress on recommendations and the general state of scams in the United States.
• Federal agencies providing the grants to issue annual reports to specific House and Senate committees.

Additionally, the amendment allows Federal law enforcement agencies to assist State, local, and Tribal agencies and fusion centers with blockchain tracing tools.