Guarding Unprotected Aging Retirees from Deception Act; GUARD Act
Summary
The Guarding Unprotected Aging Retirees from Deception Act (GUARD Act) aims to combat elder financial fraud, pig butchering scams, and general financial fraud by enabling state, local, and tribal law enforcement agencies to use federal grant funds for investigation and prosecution. It also clarifies that federal law enforcement agencies can assist state, local, and tribal agencies in using blockchain tracing tools. The bill mandates reports to Congress on financial fraud, scams, and the use of federal grant funds, enhancing transparency and accountability.
Expected Effects
The GUARD Act will likely enhance the ability of law enforcement agencies to investigate and prosecute financial crimes, particularly those targeting the elderly. This will be achieved through increased funding flexibility, improved training, and better coordination among different levels of law enforcement. Ultimately, this should lead to a reduction in financial fraud and increased protection for vulnerable populations.
Potential Benefits
- Increased protection for elderly individuals and adults with disabilities from financial exploitation.
- Improved coordination and collaboration among federal, state, local, and tribal law enforcement agencies.
- Enhanced training for law enforcement in complex financial investigations and emerging technologies.
- Better data collection and reporting on financial fraud, leading to more informed policy decisions.
- Greater transparency and accountability in the use of federal grant funds.
Potential Disadvantages
- Potential for increased burden on federal agencies to provide assistance and oversight.
- Risk of inefficient allocation of grant funds if not properly managed.
- Possible delays in implementation due to the need for coordination and reporting.
- The effectiveness of the Act depends on the actual use of funds and the quality of training provided.
- The Act's reliance on existing grant programs means its impact is limited by the scope and funding of those programs.
Constitutional Alignment
The GUARD Act aligns with the Constitution's general welfare clause, as it aims to protect vulnerable populations from financial harm. It also supports the Necessary and Proper Clause (Article I, Section 8), enabling Congress to enact laws necessary to carry out its enumerated powers, such as regulating commerce and providing for the general welfare. The Act does not appear to infringe upon any specific constitutional rights or limitations.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).