Last week, videos on TikTok went viral, showcasing how to obtain free cash from Chase bank ATMs in the USA. Now, those seeking easy money are facing accusations.
The technique involved depositing a check for a large amount that the user didn't actually possess, followed by withdrawing a smaller but still significant sum before the transaction was finalized. This so-called "glitch" was more accurately described as fraud. Unsurprisingly, JP Morgan Chase alerted law enforcement about the individuals attempting this scam.
“As with any fraud-related matter, we take it seriously and involve law enforcement when necessary. Regardless of what you see online, depositing a fraudulent check and withdrawing funds from your account is straightforward fraud,” a Chase representative stated.
It's unclear how many Americans fell for the idea of getting money for free. The Wall Street Journal reported thousands of individuals who took advantage of the fraudulent scheme.
“Don’t believe TikTok trends; check fraud is a serious crime. You will be prosecuted… If it sounds too good to be true…,” stated a message from the U.S. Postal Inspection Service.
At least some of the TikTok videos have since been removed. They promised withdrawals of $40,000-50,000 for free. Some participants justifiably feared charges and warned against such attempts. However, others insisted that using this "glitch" would result in no consequences. Currently, Chase has frozen some accounts from which these "hacks" were attempted. The bank has provided police with CCTV footage and all other related information regarding the fraud.
Sources: Wall Street Journal, Gizmodo
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