Text of Senate Amendment 6471

On 2026-06-24, Senator Katie Boyd Britt (R-AL) delivered a floor speech titled "Text Of Senate Amendment 6471" in the Senate.

Text of Senate Amendment 6471

Congressional Record, Volume 172 Issue 106 (Wednesday, June 24, 2026) [Congressional Record Volume 172, Number 106 (Wednesday, June 24, 2026)] [Senate] [Pages S3598-S3599] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] SA 6471. Mrs. BRITT submitted an amendment intended to be proposed by her to the bill S. 4784, to authorize appropriations for fiscal year 2027 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe military personnel strengths for such fiscal year, and for other purposes; which was ordered to lie on the table; as follows: At the appropriate place, insert the following: SEC. ____. GUARDING UNPROTECTED AGING RETIREES FROM DECEPTION. (a) Short Title.--This section may be cited as the ``Guarding Unprotected Aging Retirees from Deception Act'' or the ``GUARD Act''. (b) Definitions.--In this section: (1) Elder financial fraud.--The term ``elder financial fraud'' means the illegal or improper use of the money, property, or other resources of an elderly individual or adult with a disability for monetary or personal benefit, profit, or gain. (2) Eligible federal grant funds.--The term ``eligible Federal grant funds'' means funds received under any of the following: (A) Title IV of the Prioritizing Resources and Organization for Intellectual Property Act of 2008 (34 U.S.C. 30103 et seq.) (commonly known as the ``Economic, High-Technology, White Collar, and Internet Crime Prevention National Training and Technical Assistance Program''), including relating to the use of technology to solve crimes and to facilitate prosecutions (commonly known as [[Page S3599]] the ``Internet of Things (IoT) National Training and Technical Assistance Program''). (B) Title 28, Code of Federal Regulations, part 23 (commonly known as ``Justice Information Sharing Training and Technical Assistance Program''). (C) Section 1401 of the Violence Against Women Act Reauthorization Act of 2022 (34 U.S.C. 30107) to a local law enforcement agency for enforcement of cybercrimes against individuals. (D) Section 1701 title I of the Omnibus Crime Control and Safe Streets Act of 1968 (34 U.S.C. 10381), relating to developing and acquiring effective equipment, technologies, and interoperable communications that assist in responding to and preventing crime (commonly known as the ``COPS Technology and Equipment Program''). (3) General financial fraud.--The term ``general financial fraud'' means, in order to obtain money or other things of value-- (A) intentional misrepresentation of information or identity to deceive an individual; (B) unlawful use of a credit card, debit card, or automated teller machine; or (C) use of electronic means to transmit deceptive information. (4) Pig butchering.--The term ``pig butchering'' means a confidence and investment fraud in which the victim is gradually lured into making increasing monetary contributions, generally in the form of cryptocurrency, to a seemingly sound investment before the scammer disappears with the contributed monies. (5) Scam.--The term ``scam'' means a financial crime undertaken through the use of social engineering that uses deceptive inducement to acquire-- (A) authorized access to funds; or (B) personal or sensitive information that can facilitate the theft of financial assets. (6) State.--The term ``State'' means each of the several States, the District of Columbia, and each territory of the United States. (c) Federal Grants Used for Investigating Elder Financial Fraud, Pig Butchering, and General Financial Fraud.-- (1) In general.--State, local, and Tribal law enforcement agencies and grantees that receive eligible Federal grant funds may use such funds for investigating elder financial fraud, pig butchering, and general financial fraud, including by-- (A) hiring and retaining analysts, agents, experts, and other personnel; (B) providing training specific to complex financial investigations, including training on-- (i) coordination and collaboration between State, local, Tribal, and Federal law enforcement agencies; (ii) assisting victims of financial fraud and exploitation; (iii) the use of blockchain intelligence tools and related capabilities relating to emerging technologies identified in the February 2024 ``Critical and Emerging Technology List Update'' of the Fast Track Action Subcommittee on Critical and Emerging Technologies of the National Science and Technology Council (the ``Critical and Emerging Technology List''); and (iv) unique aspects of fraud investigations, including transnational financial investigations and emerging technologies identified in the Critical and Emerging Technology List; (C) obtaining software and technical tools to conduct financial fraud and exploitation investigations; (D) encouraging improved data collection and reporting; (E) supporting training and tabletop exercises to enhance coordination and communication between financial institutions and State, local, Tribal, and Federal law enforcement agencies for the purpose of stopping fraud and scams; and (F) designating a financial sector liaison to serve as a point of contact for financial institutions to share and exchange with State, local, Tribal, and Federal law enforcement agencies information relevant to the investigation of fraud and scams. (2) Report to grant provider.--Each law enforcement agency and grantee that makes use of eligible Federal grant funds for a purpose specified under paragraph (1) shall, not later than 1 year after making such use of the funds, submit to the Federal agency that provided the eligible Federal grant funds, a report containing-- (A) an explanation of the amount of funds so used, and the specific purpose for which the funds were used; (B) statistics with respect to elder financial fraud, pig butchering, and general financial fraud in the jurisdiction of the law enforcement agency, along with an analysis of how the use of the funds for a purpose specified under paragraph (1) affected such statistics; and (C) an assessment of the ability of the law enforcement agency to deter elder financial fraud, pig butchering, and general financial fraud. (d) Report on General Financial Fraud, Pig Butchering, and Elder Financial Fraud.--Not later than 1 year after the date of enactment of this Act, the Secretary of the Treasury and the Director of the Financial Crimes Enforcement Network in consultation with the Attorney General, the Secretary of Homeland Security, and the appropriate Federal banking agencies and Federal functional regulators shall, jointly, submit to Congress a report on efforts and recommendations related to general financial fraud, pig butchering, elder financial fraud, and scams. (e) Report on the State of Scams in the United States.-- (1) In general.--Not later than 2 years after the date of enactment of this Act, the Secretary of the Treasury and the Director of the Financial Crimes Enforcement Network, in consultation with the Attorney General, the Secretary of Homeland Security, and the appropriate Federal banking agencies and Federal functional regulators, shall submit a report to Congress on the state of scams in the United States that-- (A) estimates-- (i) the number of financial fraud, pig butchering, elder financial fraud, and scams committed against American consumers each year, including-- (I) attempted scams, including through social media, online dating services, email, impersonation of financial institutions and nonbank financial institutions; and (II) successful scams, including through social media, online dating services, email, impersonation of financial institutions and nonbank financial institutions; (ii) the number of consumers each year that lose money to 1 or more scams; (iii) the dollar amount of consumer losses to scams each year; (iv) the percentage of scams each year that can be attributed to-- (I) overseas actors; and (II) organized crime; (v) the number of attempted scams each year that involve the impersonation of phone numbers associated with financial institutions and nonbank financial institutions; and (vi) an estimate of the number of synthetic identities impersonating American consumers each year; (B) provides an overview of the Federal civil and criminal enforcement actions brought against the recipients of the proceeds of financial fraud, pig butchering, elder financial fraud, and scams during the period covered by the report that includes-- (i) the number of such enforcement actions; (ii) an evaluation of the effectiveness of such enforcement actions; (iii) an identification of the types of claims brought against the recipients of the proceeds of financial fraud, pig butchering, elder financial fraud, and scams; (iv) an identification of the types of penalties imposed through such enforcement actions; (v) an identification of the types of relief obtained through such enforcement actions; and (vi) the number of such enforcement actions that are connected to a Suspicious Activity Report; and (C) identifies amounts made available and amounts expended to address financial fraud, pig butchering, elder financial fraud, and scams during the period covered by the report by-- (i) the Bureau of Consumer Financial Protection; (ii) the Department of Justice; (iii) the Federal Bureau of Investigation; (iv) the Federal Communications Commission; (v) the Board of Governors of the Federal Reserve Board; (vi) the Federal Trade Commission; (vii) the Financial Crimes Enforcement Network; (viii) the Securities and Exchange Commission; and (ix) the Social Security Administration. (2) Solicitation of public comment.--In carrying out the report required under paragraph (1), the Secretary of the Treasury shall solicit comments from consumers, social media companies, email providers, telecommunications companies, financial institutions, and nonbank financial institutions. (f) Report to Congress.--Each F