GUARD Act
The source supplies the latest action, but no lifecycle stage.
Latest action (16 Sep 2026): Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 627.
What this bill does
The GUARD Act would permit state, local, and tribal law enforcement agencies receiving certain federal grant funds to use those funds for investigating general financial fraud, elder financial fraud, and a specific type of investment scam known as "pig butchering." Pig butchering involves victims being lured into investing in fake virtual schemes, often with cryptocurrency. The bill also clarifies that federal law enforcement agencies can assist these local agencies in using blockchain tracing tools.
Additionally, the bill requires the Financial Crimes Enforcement Network (FinCEN) to report to Congress. One report, due within a year of enactment, will detail efforts to combat these types of fraud and scams, including any legislative recommendations. A second report, due within two years and then every two years after, will analyze trends in financial fraud, pig butchering, elder financial fraud, and scams based on available data, including reports filed under the Bank Secrecy Act.
This legislation has passed the House of Representatives and will now move to the Senate for consideration.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
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.
Timeline
16 Sep 2026
Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 627.
Common questions
- What does H.R. 2978 do?
- The GUARD Act would permit state, local, and tribal law enforcement agencies receiving certain federal grant funds to use those funds for investigating general financial fraud, elder financial fraud, and a specific type of investment scam known as "pig butchering." Pig butchering involves victims being lured into investing in fake virtual schemes, often with cryptocurrency. The bill also clarifies that federal law enforcement agencies can assist these local agencies in using blockchain tracing tools. Additionally, the bill requires the Financial Crimes Enforcement Network (FinCEN) to report to Congress. One report, due within a year of enactment, will detail efforts to combat these types of fraud and scams, including any legislative recommendations. A second report, due within two years and then every two years after, will analyze trends in financial fraud, pig butchering, elder financial fraud, and scams based on available data, including reports filed under the Bank Secrecy Act. This legislation has passed the House of Representatives and will now move to the Senate for consideration.
- Has H.R. 2978 become law?
- The source does not supply a confirmed lifecycle stage for H.R. 2978. Check the latest action and official source below.
- Who sponsored H.R. 2978?
- H.R. 2978 was sponsored by Rep. Nunn, Zachary [R-IA-3] (R-IA), with 54 cosponsors.
- What's the latest action on H.R. 2978?
- Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 627. (16 Sep 2026).
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