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This bill creates a federal grant program to help states protect seniors from financial fraud and scams. The Securities and Exchange Commission would distribute up to $10 million annually from 2025 through 2030 to state securities regulators and insurance departments, with individual states receiving between $500,000 and $1 million per year depending on their capacity. Grant money can be used to hire investigators and prosecutors, fund technology and training for law enforcement, develop fraud prevention education for seniors, and strengthen state laws against financial exploitation, but cannot cover general administrative costs like rent or utilities. The bill addresses a documented crisis where Americans lost more than $10 billion to fraud in 2023, with investment scams accounting for $4.6 billion of that total, while seniors face particularly high risks of victimization. The SEC would be required to report to Congress on grant recipients and program effectiveness after two and five years, and conduct annual audits to ensure funds are used properly.

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