GUARD Act

This bill expands the permissible uses of certain federal grant funds for State, local, and Tribal law enforcement agencies. These agencies can now use funds from programs like the Department of Justice's Economic, High-Technology, White Collar, and Internet Crime Prevention National Training and Technical Assistance Program to investigate elder financial fraud , pig butchering , and general financial fraud . Funds can be allocated for hiring personnel, providing specialized training on complex financial investigations including blockchain intelligence tools , acquiring software, improving data collection, and fostering coordination with financial institutions. Law enforcement agencies utilizing these funds must submit a report to the grant provider within one year, detailing fund usage, statistics on fraud, and an assessment of their deterrence capabilities. Additionally, the bill mandates reports from the Secretary of the Treasury and the Director of FinCEN to Congress on the state of financial fraud and scams, including estimates of consumer losses and enforcement actions. It also explicitly permits Federal law enforcement agencies to assist State, local, and Tribal agencies with tracing tools for blockchain and related technologies.