The GUARD Act aims to enhance the capacity of State, local, and Tribal law enforcement agencies to combat various forms of financial fraud. It explicitly permits these agencies to utilize existing eligible Federal grant funds for investigating elder financial fraud , "pig butchering" scams , and general financial fraud . This includes funding for hiring personnel, providing specialized training on complex financial investigations and blockchain intelligence, and acquiring necessary software and technical tools. Furthermore, the bill encourages improved data collection, supports training exercises to foster coordination between financial institutions and law enforcement, and facilitates the designation of financial sector liaisons. Agencies using these funds must submit reports detailing their expenditures, fraud statistics, and an assessment of their deterrence capabilities. The legislation also clarifies that Federal law enforcement agencies are authorized to assist State, local, and Tribal agencies, including fusion centers, in employing blockchain and related technology tracing tools . To provide comprehensive oversight and understanding, the bill mandates two significant reports to Congress. Within one year, the Secretary of the Treasury and the Director of FinCEN, in consultation with other federal agencies, must submit a report on efforts and recommendations concerning these types of fraud. A more extensive report is required within two years, detailing the state of scams in the United States, including estimates of attempted and successful scams, consumer losses, and the involvement of overseas actors or organized crime. This report will also evaluate federal enforcement actions and identify resources expended by various federal entities.