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Chase Bank is urging its customers not to commit check fraud. The bank’s plea comes after this weekend a viral trend took over TikTok and X, with users being told that there was a systemwide ...
Pusateri added that the bank is “open to pursuing other individuals or entities we believe engaged in bank fraud.” JPMorgan Chase is the biggest US bank by assets, with roughly $3.5 trillion.
The Chase Bank trend is just the latest “get rich quick scheme,” a centuries-old concept that has been resuscitated by social media, drawing desperate people into financial crime.
In August and September of 2024, a viral "money hack", which was actually a form of cheque fraud, circulated on TikTok claiming that Chase Bank account holders could give themselves large amounts of money by writing a cheque, cashing it, and quickly withdrawing the money from an ATM.
A viral TikTok trend that had some people think they were getting “free” cash from ATMs because of a glitch is actually just fraud, according to the bank. Viral videos of people stealing money ...
The check variant of the overpayment scams, as well as other confidence tricks where scammers send the victim an illegitimate check, work in part because of the delay—sometimes days or weeks—between a customer depositing a check at a bank and the check clearing and being verified as legitimate. [3]
"Chase bank has your date of birth, security card number, address," one TikTok user said, noting how easy it would be for the bank to find the fraudsters, who had essentially committed check fraud ...
A dishonoured cheque (also spelled check) is a cheque that the bank on which it is drawn declines to pay (“honour”). There are a number of reasons why a bank might refuse to honour a cheque, with non-sufficient funds ( NSF ) being the most common, indicating that there are insufficient cleared funds in the account on which the cheque was drawn.