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A supposed “glitch” in Chase bank’s ATMs that allowed customers to withdraw large sums of money after depositing fake checks has led to a flurry of TikTok users posting videos online bragging about their ill-gotten gains. However, experts warn that this is not a harmless trick, but rather a clear case of check fraud that could result in serious legal consequences.that over the past few days, social media has been inundated with videos of people seemingly exploiting a flaw in Chase’s ATM system.
Yesterday, a glitch in Chase Bank's system allowed people to withdraw funds they weren’t entitled to, prompting the bank to place 7-day holds on the affected accounts.However, financial experts caution that there is nothing clever or harmless about this activity. What may have seemed like a sneaky life hack is in fact a textbook example of check fraud.
Depending on the specific circumstances and amounts involved, check fraud can be prosecuted as a felony offense at either the state or federal level. In more serious cases, the penalty may include a fine of up to $1 million and 30 years in prison. Rather than an easy payday, participants in this viral stunt may have opened themselves up to severe legal jeopardy with their very public admissions posted online.
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