Google AI: The Satanic Panic was a 1980s–1990s moral panic, primarily in North America, involving unsubstantiated, widespread fears of organized Satanic cults abusing children. Fuelled by the 1980 book Michelle Remembers, sensationalist media, and dubious, recovered-memory therapy, this hysteria led to numerous false accusations, ruined lives, and innocent convictions, especially against daycare operators.
I believe I learned this term from the Holy Post Media, more than once now: