Senators Britt, Gillibrand Introduce Bill to Protect Elderly from Financial Fraud
Bipartisian legislation will help protect elderly against scams
U.S. Senators Katie Britt of Alabama and Kirsten Gillibrand of New York have rolled out bipartisan legislation to defend elderly Americans from financial scams. The new Guarding Unprotected Aging Retirees from Deception (GUARD) Act aims to strengthen law enforcement tools across the board. Senator Rick Scott of Florida, chair of the Senate Aging Committee, is also a co-sponsor.
“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,” said Senator 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.”
“Every day, scammers target our seniors, often robbing them of their hard-earned savings and stealing their personal information,” said Senator Gillibrand. “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.”
The GUARD Act would let state and local law enforcement use existing federal grant funds for hiring investigators, training staff, and buying tools to trace financial crime—especially using blockchain technology. It would also allow federal agencies to support local officers in employing these tracing tools.
Senator Scott said he was “thrilled to join Senators Gillibrand and Britt” in backing the bill. He pointed to a Senate report: in 2024 seniors lost more than $4.8 billion to scams, and those aged 50 to 59 lost another $2.5 billion. Scott added that the bill would build on existing initiatives like National Slam the Scam Day and the Fraud Hotline to help older Americans keep their dignity and their money.
The growing threat comes as scammers use schemes like “pig butchering” to coax victims into investing in fake cryptocurrency schemes—often keeping losses below federal threshold levels so local authorities can’t act. The GUARD Act aims to close that enforcement gap.
Federal Trade Commission data backs up the urgency. In 2023, Americans aged 60 and over reported losing more than $1.9 billion to fraud, with total losses likely much higher. In 2024, losses jumped 21 percent to over $2.3 billion, and more than $745 million was lost in just the first three months of 2025—about $200 million more than the same period in 2024.
The legislation is endorsed by AARP. It serves as the Senate companion to H.R. 2978, introduced by Representatives Zach Nunn and Josh Gottheimer earlier this year.
Senator Britt has long raised alarm over scams aimed at older Americans. At a 2024 banking committee hearing, she said: “It’s clear we must be doing more… we must do better in educating our population, particularly the elderly population… I want to make sure we are enabling law enforcement.” That earlier warning helped lay the groundwork for this new legislation.
