Results for: Check Fraud

JPMorgan Chase is pursuing legal action against individuals who exploited a technical flaw to withdraw funds from ATMs before checks bounced. The bank is investigating thousands of potential cases related to the ‘infinite money glitch,’ which gained notoriety on social media. This incident highlights the continued vulnerability of financial institutions to check fraud despite the declining use of physical checks.

Chase Bank has issued a public warning against a viral TikTok scheme involving depositing fraudulent checks and withdrawing funds before the checks could be denied. While the scheme exploited a delay in Chase Bank’s system, the bank is recouping the funds and customers involved face potential legal consequences.