Security

TikTok trend encourages Chase ATM check fraud

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September 4, 2024

A trend on TikTok encouraged viewers to take advantage of a "glitch" to get free money from JPMorgan Chase ATMs. However, the bank is saying this glitch is check fraud, according to a report by USA Today.

In the TikTok videos, creators would deposit checks and then withdraw for a smaller amount of money before the check clears. The bank said this is a form of check fraud.

The trend takes advantage of a banking standard that lets customers have access to a small portion of the money deposited from a check. Users are withdrawing money before the check bounces.

Some users are left with negative account balances after trying the trend. Chase is warning other customers not to try it out.

"Regardless of what you see online, depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple," a Chase spokesperson said in the report.