Chase Bank Warns of Viral TikTok ATM Check Fraud Trend

Chase Bank has issued a warning about a viral TikTok trend that's putting people's money at risk. This trend involves using ATMs to deposit fake checks, and it's causing a lot of damage.

Victims are being tricked into depositing checks that are later discovered to be fake, resulting in overdraft fees and even stolen identities. The scammers are using these fake checks to drain bank accounts.

Chase Bank is urging customers to be cautious and report any suspicious activity immediately.

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Chase Bank is warning people against a viral TikTok trend that's been making the rounds, where individuals are depositing large checks at ATMs and quickly withdrawing smaller amounts before the checks bounce.

This is not a glitch, but rather a form of check fraud, a criminal offense. The bank has stated that the issue has been addressed and is warning people not to try it.

People who attempted this ruse were seeing big holes in their accounts or huge negative balances, which was actually the bank putting holds on their accounts or deducting the stolen cash.

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Bank errors in your favor are almost never in your favor, and in this case, it was just check fraud. Jim Wang, a financial educator, advises against spending or moving the money, but rather leaving it alone and telling the bank.

Chase is still determining how many customers and how much money was involved in the incident. The bank is also reviewing the situation with its parent company, JPMorgan.

The viral TikTok trend involves writing checks for large amounts of money and withdrawing as much money as possible before the check bounces.

This ruse centers on a banking standard that allows check depositors to access a portion of their money before the full total of the check clears.

People participating in the trend are seeing big holes in their accounts or huge negative balances when the bank puts holds on their accounts or deducts the stolen cash.

Bank errors in your favor are almost never in your favor, and in this case, it's just check fraud, plain and simple.

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The people throwing dollar bills in the air celebrating their newfound richness are actually committing a criminal offense, and the bank will want the money back.

Chase has already addressed the issue and warned people not to try it, but it's essential to remember that this is not a bug or a hack – it's just check fraud.

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