Empowering Law Enforcement to Combat Financial Fraud Act
About This Bill
Committee
Latest Action · September 6, 2024
Referred to the Committee on the Judiciary, and in addition to the Committee on Homeland Security, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
This bill allows state, local, and tribal law enforcement agencies to use certain existing federal grant funds to combat financial fraud, including senior fraud targeting elderly people, pig butchering scams involving cryptocurrency, and general financial fraud. The eligible grant programs include those focused on cybercrime, economic crime, technology training, and local enforcement efforts. Agencies using these funds can hire staff, provide specialized training on financial investigations and blockchain technology, purchase investigative software and tools, and improve data collection on fraud cases. The bill also authorizes federal law enforcement agencies to assist local authorities with blockchain tracing tools and requires that any law enforcement agency using these funds submit an annual report to the federal grant provider detailing how much money was spent and whether the funding improved their ability to prevent and deter financial fraud. Additionally, federal agencies must compile and submit annual reports to Congress on how these funds are being used across jurisdictions.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.