Security News

US House Passes Bill to Boost Local Police Tools Against Financial Scams

The Record · 17 Sept 2026

Key Takeaway Australian SMBs should remind staff and older relatives that reporting scams promptly, even small ones, helps build the evidence trail law enforcement needs, and that no legitimate investment offers guaranteed high returns via cryptocurrency.

The US House of Representatives has passed the Guarding Unprotected Aging Retirees from Deception Act (GUARD Act), a bipartisan bill aimed at helping local police tackle online financial scams. The legislation addresses a common problem: many scam cases, including so called 'pig butchering' schemes, are too small for federal investigators but too complex for local police, who often lack the right tools or training.

Under the bill, local law enforcement agencies could use existing Department of Justice grant funding to hire fraud analysts, train officers on helping victims, and learn how to use blockchain intelligence tools to trace stolen cryptocurrency. Agencies could also buy financial investigation software and set up a dedicated contact point for banks and financial institutions to share information with police.

The bill comes as cryptocurrency related losses in the US hit a record $11.4 billion in 2025, with investment fraud alone accounting for $8.6 billion. Seniors are highlighted as especially vulnerable, often targeted by transnational criminal groups operating scams from overseas. Advocacy groups such as AARP have welcomed the move, saying local police are often the first point of contact for victims but have long lacked the resources to properly investigate these crimes.

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Summarised by CISO AI from The Record. We link back to every original so you can read it yourself.