Washington, D.C. – U.S. Senators Katie Britt (R-Ala.) and Kirsten Gillibrand (D-N.Y.), the ranking member of the Senate Aging Committee, have introduced the Guarding Unprotected Aging Retirees from Deception (GUARD) Act, bipartisan legislation designed to combat financial fraud targeting elderly Americans. Senator Rick Scott (R-Fla.), chairman of the Senate Aging Committee, is also a cosponsor.
The GUARD Act would allow state and local law enforcement to use existing federal grant funds to hire agents, train personnel, and expand resources specifically for utilizing blockchain technology in fraud investigations. It would also authorize federal law enforcement agencies to provide tracing assistance to state and local authorities.
Senator Britt emphasized the urgent need for stronger protections, stating that scammers have stolen “life-changing amounts of money” from seniors who often rely on fixed incomes. Senator Gillibrand echoed these concerns, noting that local agencies frequently lack the tools necessary to pursue increasingly sophisticated scams.
Senator Scott highlighted that scams and fraud against older Americans continue to rise, citing the committee’s recent fraud report, which documented billions lost in 2024 alone. He underscored that the GUARD Act would help extend Department of Justice tracing capabilities to local agencies and better equip them to respond.
According to the Federal Trade Commission (FTC), Americans over the age of 60 reported losing more than $2.3 billion to fraud in 2024, a 21% increase from the previous year. Losses in the first quarter of 2025 alone exceeded $745 million, signaling the escalating nature of the threat.
The GUARD Act has earned the endorsement of AARP and is the Senate companion to H.R. 2978, introduced earlier this year by Representatives Zach Nunn (R-Iowa) and Josh Gottheimer (D-N.J.). Supporters say the bill represents a critical step toward protecting seniors, promoting cooperation between federal and local agencies, and curbing the growing use of technology in financial scams.
