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Standard Summary
Comprehensive overview in 1-2 paragraphs
The GUARD Act permits State, local, and Tribal law enforcement agencies to use eligible Federal grant funds for investigating elder financial fraud, pig butchering scams, and general financial fraud. It also clarifies that Federal law enforcement agencies may assist these agencies with blockchain tracing tools.
Key Points
- 1Allows use of Federal grant funds for investigating elder financial fraud, pig butchering scams, and general financial fraud
- 2Authorizes hiring personnel, providing training, obtaining software/tools, and improving data collection for fraud investigations
- 3Requires annual reporting on fraud statistics and investigation effectiveness
- 4Mandates reports on general financial fraud, pig butchering, and elder financial fraud efforts
- 5Clarifies Federal law enforcement can assist with blockchain tracing tools for fraud investigations
Impact Areas
State and local law enforcement agenciesElder financial fraud victimsFinancial fraud investigation capabilitiesBlockchain technology use in law enforcementFederal grant fund allocation
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