U.S. Senator Katie Britt, R-Alabama, has partnered with Senator Kirsten Gillibrand, D-New York, to introduce the Guarding Unprotected Aging Retirees from Deception (GUARD) Act, a bipartisan bill designed to shield older Americans from financial scams—particularly those exploiting cryptocurrency and blockchain technologies.
The GUARD Act would allow state and local law enforcement to use federal grant funding they already receive to hire personnel, train staff and deploy resources to investigate financial crimes involving blockchain. It would also authorize federal law enforcement to assist with advanced tracing tools, often unavailable to local agencies.
“These scammers exploit gaps in state and local law enforcement capabilities that often allow them to escape prosecution,” said Britt. “I’m proud to lead the GUARD Act with Senator Gillibrand to give law enforcement agencies the tools they need to bring these faceless cowards to justice and take meaningful steps to combat financial fraud at large.”
Gillibrand, the ranking Democrat on the Senate Aging Committee, said the legislation would help agencies struggling to respond.
“Every day, scammers target our seniors, often robbing them of their hard-earned savings and stealing their personal information,” Gillibrand said. “Far too often, local law enforcement agencies lack the resources they need to track down these criminals and hold them accountable. Our GUARD Act would enhance law enforcement capabilities and foster much-needed cooperation between federal and local agencies to combat fraud and bring scammers to justice.”
According to the Federal Trade Commission, Americans aged 60 and older reported more than $1.9 billion in losses due to fraud in 2023. That number surged to more than $2.3 billion in 2024—a 21 percent increase—with over $745 million in losses reported in just the first quarter of 2025, nearly $200 million more than at the same point last year. The true losses may be significantly higher, with experts estimating unreported fraud at $61.5 billion.
A key concern is a growing scam known as “pig butchering,” where criminals build fake online relationships—often posing as romantic partners or investment mentors—to convince victims to transfer money, which is then laundered using blockchain tools. Many of these thefts stay just below the thresholds that trigger federal intervention, leaving state agencies ill-equipped to respond.
“Unfortunately, far too many Alabamians — especially our elder population — have been victimized by bad actors who use cryptocurrency to conceal their activities and avoid prosecution,” said Alabama Law Enforcement Agency Secretary Hal Taylor. “The GUARD Act is a crucial step toward equipping state and local law enforcement agencies with the tools they need to effectively investigate and respond to these crimes.”
Amanda Senn, director of the Alabama Securities Commission, said she welcomes the legislation.
“We applaud Senator Britt for recognizing this problem and her effort to combat fraud, especially against those who have worked hard to build a retirement and deserve assurances that theft and fraud will not be tolerated,” Senn said. “Elder financial exploitation is extensive and growing at an unbelievable rate. Fraudsters are quick to take advantage of technological advancements, and the financial losses to our senior population is staggering.”
Senator Rick Scott, R-Florida, who chairs the Senate Special Committee on Aging and is a cosponsor of the bill, said the GUARD Act builds on the committee’s broader work to combat fraud.
“I am thrilled to join Senators Gillibrand and Britt to introduce the Guarding Unprotected Aging Retirees from Deception (GUARD) Act,” Scott said. “This bill helps ensure that local and state law enforcement can access critical tools like blockchain tracing technology that is already used by the Department of Justice to freeze hundreds of millions in stolen funds, and receive federal assistance to investigate these crimes more effectively in an effort to stop scams targeting our aging community.”
Scott cited the committee’s recent annual fraud report and noted the alarming rise in AI-driven scams. “In 2024 alone, frauds and scams cost seniors over $4.8 billion, with those aged 50–59 losing an additional $2.5 billion,” he said.
The GUARD Act is endorsed by AARP and serves as the Senate companion to H.R. 2978, introduced earlier this year by Representatives Zach Nunn, R-Iowa, and Josh Gottheimer, D-New Jersey.
Britt has made financial fraud prevention a personal priority, especially when it comes to protecting Alabama’s seniors. In a 2024 Senate Banking Committee hearing, she said, “It’s clear we must be doing more. We must be more diligent. We must do better in educating our population, particularly the elderly population, with regards to everything from romance schemes to sweepstakes scams to impersonations, which ultimately let Alabamians become victims. I want to make sure we are enabling law enforcement. I want to make sure we are doing everything we possibly can.”
With elder fraud losses climbing and scammers growing more sophisticated, lawmakers say the GUARD Act may be one of the most important tools yet to help law enforcement stay ahead of the threat—and ensure that every American can enjoy their golden years with dignity and financial security.
