Of course it creates a massive opportunity for fraud. But no one in this administration cares about fraud and scams, haven't you seen the President's namesake crypto shitcoin? Or his namesake fraudulent university? Or his namesake fraudulent charity?
The way this administration sees it, separating suckers from their money is virtuous -- if you're smart enough to defraud them, you should be rewarded for your efforts. But if you're dumb enough to be conned, you got what was coming to you. Be smarter next time or perish.
This is the new morality.