Chase Bank says it is aware of viral 'glitch' inviting people to commit check fraud

Chase Bank is urging its customers not to perpetrate cheque fraud.

The bank's plea comes aft this play a viral inclination took implicit TikTok and X, with users being told that determination was a systemwide glitch and that, if they deposited mendacious checks successful an ATM and withdrew that wealth soon afterward, they would beryllium capable to cheat the strategy and instrumentality retired a large sum of cash before the cheque bounced.

The lone problem? This is not a "glitch" — it's a cheque fraud strategy and those who enactment volition beryllium connected the hook for each the wealth they withdrew erstwhile the cheque bounces.

Although immoderate connected TikTok called the strategy a "glitch," Chase reminded its customers that this "glitch" is really an invitation to perpetrate fraud. 

"We are alert of this incident, and it has been addressed," a spokesperson for Chase said successful a connection to NBC News. "Regardless of what you spot online, depositing a fraudulent cheque and withdrawing the funds from your relationship is fraud, plain and simple."

NBC News has not verified if anyone really committed the transgression arsenic portion of the viral trend. However, videos online purported to amusement radical successfully withdrawing currency from an ATM aft depositing a fraudulent cheque into their ain slope relationship — earlier others rapidly pointed retired that what they were doing was a crime.

While speech astir the "glitch" has taken implicit TikTok, it appears the archetypal notation of it was on X, erstwhile a idiosyncratic shared an excessive equilibrium of much than $80,000 successful his relationship connected Thursday, according to meme database Know Your Meme. 

One video appeared to show lines forming extracurricular of a Chase branch in New York suggesting radical were flocking to the slope to "get escaped money." Just arsenic rapidly arsenic the inclination took off, however, radical were soon posting screenshots of massive antagonistic balances and holds on their Chase accounts arsenic a effect of allegedly trying to retreat the money. 

"I don't cognize what these radical deliberation penning atrocious checks is, but I don't cognize wherefore they thought this was a glitch," one TikTok idiosyncratic said. "Definitely don't bash it." 

Fake cheque deposits are a communal signifier of cheque fraud and are not new, though the chaos of this play saw galore online observe the maneuver for the archetypal clip — and mistaking it for a wealth hack.

Large checks deposited digitally are often placed connected clasp portion the slope reviews their authenticity, but immoderate ATMs let customers to entree a information of the recently deposited funds immediately. This allows users to rapidly retreat the wealth earlier their cheque clears oregon bounces.

Fraudsters often attack this by opening slope accounts with fake identities, creating and depositing counterfeit checks from seemingly morganatic sources, past abandoning the relationship and leaving it with a antagonistic balance.

Another communal instrumentality involves a scammer pretending that they sent a cheque for a greater magnitude than they meant to, hoping that the recipient is consenting to deposit the cheque and transportation the excess money, which would yet permission the unfortunate retired of their ain funds aft the cheque bounces.

But successful this case, radical online look to beryllium simply committing cheque fraud against themselves — making it comparatively casual for a slope to drawback connected and clasp them accountable.

In the days aft the Chase "glitch" gained traction, different TikTokers began dunking connected those who had tried it, with some joking about waking up with enormous antagonistic balances and others warning users that they had nary accidental of outsmarting the multinational banking institution.

"Chase Bank glitch? No, that's called fraud," 1 TikTok user said successful a video that accrued much than 1 cardinal likes successful 1 day. "You went to the slope and took $50,000 that didn't beryllium to you. That's not a beingness hack, that's called robbery. You're going to jail. Prison actually."