House Passes GUARD Act to Combat Financial Scams Targeting Seniors, Supported by Rep. Troy Nehls
The U.S. House of Representatives has passed H.R. 2978, the Guarding Unprotected Aging Retirees from Deception (GUARD) Act. This bipartisan legislation, introduced by Republican Study Committee (RSC) National Security Task Force Chairman Zach Nunn (IA-03), aims to provide state, local, and Tribal law enforcement with enhanced tools to investigate and combat financial scams targeting elderly Americans. These scams, often employing sophisticated technology like 'pig butchering' schemes involving cryptocurrency, defraud seniors of their life savings. The GUARD Act will allow law enforcement agencies to utilize eligible federal grant funding for specialized personnel, training, investigative technology, data collection, and coordination with financial institutions. It also seeks to strengthen inter-agency coordination and support the use of blockchain tracing tools to track illicit financial transactions. Congressman Troy Nehls (TX-22) expressed strong support for the bill, emphasizing his experience as a form...