WASHINGTON, D.C. – Today, Chairman Rick Scott of the U.S. Senate Special Committee on Aging, joined Senator Katie Britt and Ranking Member Kirsten Gillibrand in introducing the Guarding Unprotected Aging Retirees from Deception (GUARD) Act to help protect seniors from increasingly sophisticated financial scams. This bipartisan legislation enhances state and local law enforcement’s ability to investigate financial fraud by expanding the use of federal grant funds to support specialized training and the use of blockchain tracing technology. With financial losses among older Americans soaring into the billions annually, the GUARD Act aims to close critical gaps that scammers exploit, ensuring stronger protections for one of the nation’s most vulnerable populations.
Chairman Rick Scott said, “I am thrilled to join Senators Gillibrand and Britt to introduce the GUARD Act. 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 as we’ve witnessed growing financial threats against aging Americans. As chairman of the U.S. Senate Special Committee on Aging, I am fully committed to standing up for our aging population, who have contributed so much to our country. The committee recently released our annual Fraud Report which details the alarming rise in scams, particularly sophisticated schemes that utilize artificial intelligence. In 2024 alone, frauds and scams cost seniors over $4.8 billion, with those aged 50-59 losing an additional $2.5 billion. Additionally, we have pushed vital initiatives like our National Slam the Scam Day resolution and our toll-free Fraud Hotline, in an effort to expand access to education, prevention tools, and direct support to better empower families to recognize fraud and respond quickly with the necessary steps. Together, with the GUARD Act, we can work to ensure that every older American has the opportunity to enjoy their golden years with dignity, safety, and the financial security they deserve.”
Senator Katie Britt said, “For too long, scammers have preyed upon the elderly, one of our nation’s most vulnerable populations, and stolen life-changing amounts of money from Americans who often live on fixed incomes. To make matters worse, these scammers exploit gaps in state and local law enforcement capabilities that often allow them to escape prosecution. 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.”
Ranking Member Kirsten Gillibrand said, “Every day, scammers target our seniors, often robbing them of their hard-earned savings and stealing their personal information. As the top-ranking Democrat on the Senate Aging Committee, I’ve seen firsthand the devastating impact these scams have on older Americans and their families. 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. I look forward to working with Senator Britt to get this critical legislation across the finish line.”
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