Published on: September 5, 2024
A new trend has emerged on social media platforms TikTok and X, where videos claim that people can obtain “free” cash from Chase Bank ATMs by depositing fake checks and withdrawing the money before they bounce. The videos, which went viral over the weekend, suggest a supposed “glitch” in the banking system that viewers can exploit. However, Chase Bank has issued a strong warning that such actions constitute fraud.
In a statement, a Chase spokesperson warned, “Regardless of what you see online, depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple.”
The bank made it clear that it is aware of the trend but has not confirmed whether it is working with authorities or how many customers may have attempted to take advantage of it.
Luis Corrons, a cybersecurity expert at Norton, explained that intentionally deceiving a financial institution to gain access to funds that do not belong to the individual is a criminal offense. “Financial institutions are highly vigilant about fraudulent activities, and once you’re flagged for fraud, it can result in your account being frozen or permanently closed.”
Corrons cautioned against taking financial advice from unverified sources on social media, especially those that promise unrealistic gains.
“If something seems too good to be true, it almost certainly is,” he warned. “It’s important to stay informed and skeptical of any claims that suggest you can get something for nothing.”
While the videos might seem entertaining or tempting to some viewers, it is crucial to remember the legal risks and ethical implications of participating in such schemes.