Part offinancial fraud →

FEDERALcongressional record

High Impact

The GUARD Act: Proposed Federal Support for Fighting Financial Scams

Original title: Text of Senate Amendment 6471

June 24, 2026

financial fraud law enforcement cybercrime elder care federal grants cryptocurrency

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The Frame

What this does

This amendment would expand the permitted uses of existing federal law enforcement grants to include specialized training, software, and personnel for investigating complex financial crimes, directly impacting how local agencies allocate resources to combat fraud.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

State, local, and Tribal law enforcement agencies

These agencies gain the authority to use specific federal grant funds for hiring, training, and technology related to financial fraud investigations.

Financial institutions

They are expected to share information with law enforcement through designated liaisons and may be solicited for public comment on federal scam reports.

Elderly individuals and adults with disabilities

The bill specifically targets the investigation of financial fraud and exploitation directed at these populations.

What changed

Last recorded activity June 24, 2026.

What's next

Next step not available in the current record.

Summary

The GUARD Act is a proposed amendment to the annual defense authorization bill that would allow state, local, and tribal law enforcement to use existing federal grant funds to investigate financial fraud, including '' and elder financial exploitation. It also mandates federal reports to Congress on the prevalence and impact of these scams in the United States.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

What is 'pig butchering'?

The bill defines it as a type of investment fraud where victims are gradually lured into making increasing monetary contributions, usually in cryptocurrency, before the scammer steals the funds.

Does this bill provide new funding?

No, it authorizes the use of existing 'eligible Federal grant funds' for new purposes related to fraud investigation.

Who is required to report on the state of scams?

The Secretary of the Treasury and the Director of the Financial Crimes Enforcement Network are required to lead this reporting in consultation with other federal agencies.

Why It Matters

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Related Legislation

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Senate Scheduling Update for S. 4784

The Senate has agreed to delay the vote on a cloture motion for S. 4784 until after the confirmation vote for the Schwartz nomination. This procedural

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Expansion of Grant Utility

The amendment shifts the focus of existing federal law enforcement grants toward specialized financial and cybercrime investigation capabilities.

Department of Justice Financial Crimes Enforcement Network

Connected Entities

organizationDepartment of Defense“Agency whose appropriations are authorized by the underlying bill.”Map →

personMrs. Britt“U.S. Senator who submitted the amendment.”Map →

personAttorney General“Required to consult on federal reports regarding scams.”Map →

organizationDepartment of the Treasury“Required to lead reporting on financial scams.”Map →

organizationFinancial Crimes Enforcement Network“Required to consult on and submit reports regarding financial fraud.”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance75
How much this matters to a regular citizen
Controversy15
Intensity of disagreement among stakeholders
Entertainment10
Compellingness for a non-policy-wonk reader
Buzz25
Current news / social attention level

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