A TikTok video showing people how to exploit a “glitch” in Chase Bank’s ATMs is going very wrong for many people getting caught stealing from the financial institution.
The scam is little different than check fraud, and it is very illegal.
Per the New York Post:
Videos urging customers at the bank to take advantage of the “glitch” quickly took off online, prompting people to deposit fake checks for large sums of money. The glitch would credit some of the sham deposits to the customers’ accounts before the checks cleared.
One video showed people lined up outside of Chase locations in New York City, allegedly looking to take advantage of the “viral glitch to get free money,” one person wrote on X.
But, Chase quickly fixed the bug, and is now clawing back any money doled out to people who didn’t deserve it.
…
The people who took advantage of the glitch were soon reporting that their accounts were locked and hit with massive negative balances.
One user posted deductions labeled “ATM deposit error” totaling nearly $40,000.
Once again, don’t believe what you see on social media, folks.
Will this presidential election be the most important in American history?
The glitch had temporarily allowed people to deposit a check, but then withdraw the money right away instead of waiting for the checks to clear.
The system, though has been repaired and anyone who did this has been identified.
Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston, or Truth Social @WarnerToddHuston
Cross-posted with The Lid
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