Chase Bank aware of customers attempted to game ATMs with viral ‘glitch’
The "Money Glitch" Trend: A Viral Phenomenon with Serious Consequences
A recent trend on TikTok has gone viral, with many users calling it a "money glitch" or "free money hack." However, NBC News culture and trends reporter Callen Rosenblum is here to set the record straight: this is actually a form of check fraud, and it’s having serious consequences.
How it Started
The trend began at the end of August, when users started claiming that they had discovered a loophole at Chase Bank. They would deposit checks in their own name, for astronomical amounts such as $30,000 or $40,000, and then withdraw the money before the check was flagged as fraudulent. But, as Rosenblum explains, this is not a glitch – it’s check fraud.
The Consequences
For those who participate in this fraudulent activity, the consequences can be severe. Not only may they face legal trouble and a court case with Chase, but they will also be on the hook for a significant amount of money. In some cases, people have claimed to owe up to $10,000 or $30,000, which they will need to pay back to Chase.
The Pile-On
But it’s not just Chase that’s speaking out against this trend. Many TikTok users are also posting videos saying that this is not a loophole, but a crime. They are urging others not to participate in this activity, which is illegal and can have serious financial consequences.
A Wake-Up Call
This trend may have started as a way for some to get fast cash, but it’s also serving as a wake-up call for younger people who may not fully understand how bank accounts and checks work. As Rosenblum notes, some people may be unaware of the consequences of this type of activity, and it’s important to educate others about the dangers of check fraud.
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