Banks Earn Top Trust for Protecting Household Funds

Most Americans trust banks over government or tech firms to block fraud, with 83% reporting proactive alerts.

Updated on Oct. 26, 2026 in Banking

Bold flat-color editorial illustration of a large steel vault handle, representing the institutional security of banking services. — Americans overwhelmingly trust traditional banks to prevent financial fraud over tech firms and government agencies, according to a national survey released Tuesday. AI Illustration. Upload story photo >

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Should federal law force social media and telecom companies to do more to stop fraud?

A national survey reveals that Americans place the most trust in banks to protect them from financial fraud, far outperforming government agencies and fintech providers. This perception comes as most households report receiving fraud alerts from their financial institutions.

Why it matters

As fraud attempts via social media and telecommunications channels rise, consumers are looking for accountability from the platforms they use to communicate. This growing demand for tighter regulation signals a shift in who households believe should be responsible for blocking scams before they reach them.

A Morning Consult survey of 4,402 U.S. adults found 44% trust banks most for fraud protection, versus just 8% who trust the government. Additionally, 83% of bank customers report their institution takes proactive steps to protect them from scams.

The players

Morning Consult

A global decision intelligence company that provides data and insights through consumer and executive polling.

The details

The survey highlights a significant trust gap between traditional financial institutions and the technology platforms where many scams originate. While 72% of Americans have encountered fraudulent messages on social media, consumers now overwhelmingly support federal mandates to force these platforms and phone companies to authenticate users and remove fake accounts.

The survey was conducted among 4,402 U.S. adults from Oct. 9-12, 2026.

Money Landscape

This data reflects a broader shift in consumer expectations toward institutional accountability as digital threats evolve. The results highlight a sharp contrast between the high trust afforded to traditional banks and the widespread skepticism directed toward social media and telecom firms.

Given the high reliance on bank-provided alerts, ensure your contact information is up to date with your financial institution so you receive timely fraud notifications. If you encounter potential scams, report them directly through your bank's verified communication channels.

The takeaway

While banks currently hold the highest public trust for security, the data shows that most Americans are ready for federal intervention in social media and telecom fraud prevention. Review your account alert settings today to ensure you are receiving the proactive notifications banks use to protect funds.