A couple of months ago, posts started circulating that showed users how to withdraw thousands of dollars using ‘the infinite money glitch’ to commit check fraud. As per this TikTok trick, people could deposit fake checks for large amounts and quickly money before the bank could verify the check. Usually, the bank follows the standard rule, wherein a small part of a check’s amount is made available before it is cleared, but due to a temporary glitch, people could take out much more than usual.
Chase Takes Legal Action Against People Stealing Money From Their ATMs
As per reports, Chase Bank is taking legal action against four customers who allegedly owe a total of about $662,000. This information is based on four lawsuits that JPMorgan, the parent company of Chase, filed in three different federal courts.
As per the reports, the bank stated in the filings dated Monday, “Chase takes its responsibility to combat fraud seriously and prioritizes protecting the firm and its customers to make the banking system safer. Part of that responsibility is to hold people accountable when they commit fraud against Chase and its customers. Simply put, engaging in bank fraud is a crime.”
JPMorgan filed one lawsuit in the District Court for the Southern District of Texas and the other lawsuits were filed in Florida and California federal courts.
In one case, a masked man in Houston, allegedly deposited a $335,000 check into someone else’s account and Chase claims that this person owes them $291,000, which is the highest amount owed among all four cases.
The bank, which is recognized as the largest in the U.S. in terms of assets, has asked people who committed the fraud to immediately return overdraft amounts and any fees that apply. However, the defendants have not paid back the money yet, which the bank said is a violation of the deposit agreement that the customers signed when they opened their accounts.
In a statement to CNBC, a Chase spokesperson was quoted as saying, “Fraud is a crime that impacts everyone and undermines trust in the banking system. We’re pursuing these cases and actively cooperating with law enforcement to make sure if someone is committing fraud against Chase and its customers, they’re held accountable.”
