Chase Bank Addresses Viral "Glitch" Allowing Unlimited Cash Withdrawals

Chase Bank has acknowledged a recent online trend where users claimed an error at the bank allowed ATM machines to dispense unlimited cash. The bank stated:

• This was not a "glitch" but a case of check fraud, where users deposited fake checks and withdrew the requested amount before it cleared.
• Withdrawing funds from a deposited but uncashed fraudulent check is considered check fraud and is illegal.
• The bank is reviewing thousands of such incidents and will refer offenders to law enforcement authorities.

TikTok Trend Promoting Check Fraud

Over the past weekend, a meme went viral on social media platforms like TikTok, suggesting a "glitch" at Chase Bank ATM machines allowed users to withdraw unlimited cash. This prompted many users to engage in check fraud by:

• Depositing a fake check for a large amount
• Attempting to immediately withdraw the full amount from an ATM machine before the check cleared
• Filming themselves bragging about their "newfound riches" on TikTok

Legal Consequences of Check Fraud

Check fraud is a criminal offense, and the severity of punishment varies by state. Some examples include:

• In California, misdemeanor check fraud can lead to a one-year prison term and financial penalties.
• In New York, misdemeanor check fraud can result in up to three months in jail and a fine.
• The charges can be more severe depending on the amount of funds involved and the individual's criminal history.

Technical Error Allowing Full Withdrawal

According to reports, there was a temporary technical error at Chase Bank that allowed customers to withdraw the full amount of a deposited check, instead of the usual partial amount, before it cleared. However:

• This error was quickly fixed by the bank.
• It did not justify engaging in check fraud, which is illegal.
• Users who exploited this error could face legal consequences.

Chase Bank's Response and Warning

In response to the viral trend, Chase Bank has issued a clear warning:

• "Depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple."
• The bank is reviewing all suspicious incidents and will refer offenders to law enforcement agencies.
• Users who participated in this check fraud trend could face criminal charges and penalties.

Social Media's Role in Promoting Illegal Activities

This incident highlights the potential dangers of viral online trends and the ease with which misinformation can spread on social media platforms like TikTok. While initially presented as a harmless "glitch," the meme actively encouraged illegal activities such as check fraud, which can have severe legal consequences.