Voters Have Backed Proposed Financial Fraud Legislation

A new survey shows high public support for federal measures to curb fraudulent advertisements on social media platforms.

Updated on Sept. 22, 2026 in Financial Crime

Bold flat-color editorial illustration showing a symbolic shield blocking a data conduit, representing financial fraud regulation. — A recent American Bankers Association survey indicates that 92% of voters support new federal legislation aimed at removing fraudulent advertisements from social media platforms. AI Illustration. Upload story photo >

Live Poll

Should social media companies be held legally responsible for fraudulent advertisements on their platforms?

A national survey conducted by the American Bankers Association reveals that 92% of voters support the Safeguarding Consumers from Advertising Misconduct Act. The proposed legislation would require social media companies to remove fraudulent advertisements from their platforms.

Why it matters

The survey results indicate widespread public demand for stricter federal regulation of online platforms to combat financial scams. Nearly three in four voters expressed concern about falling victim to online financial fraud.

A national survey found that 90% of voters support mandatory identity verification for social media advertisers. Furthermore, 93% of respondents favor holding digital platforms financially accountable for fraudulent content.

The players

American Bankers Association

The American Bankers Association is a national trade group that represents banks of all sizes and types within the United States.

Fabrizio Ward

Fabrizio Ward is a polling and public opinion research firm that conducts sentiment analysis for organizations and political campaigns.

The details

The survey presented registered voters with details regarding the Safeguarding Consumers from Advertising Misconduct Act and competing arguments about industry self-regulation. The data suggests that 75% of voters would be more likely to support a congressional candidate who backs these measures.

The SCAM Act was introduced in Congress earlier in 2026.
The American Bankers Association published the survey results on September 22, 2026.

Legal Context

This polling follows a pattern of increased legislative scrutiny regarding the accountability of digital platforms for user-facing content. It marks a departure from reliance on voluntary self-policing measures currently employed by major social media firms.

The findings suggest that residents may soon see more stringent identity requirements applied to online advertisements. Voters are signaling a preference for government-mandated security measures over existing platform-led moderation tools.

The takeaway

The high level of voter support for the SCAM Act suggests that candidates may face pressure to prioritize platform accountability in their policy platforms. Improving personal digital safety habits remains essential as consumers wait for potential regulatory shifts.