A recent trend on TikTok, known as the “Chase Bank Money Glitch,” has been exposed as a fraudulent scheme involving check fraud.
The viral trend is raising alarms among financial institutions and law enforcement agencies.
The trend, which quickly gained popularity over the weekend, falsely claimed that users could exploit a supposed glitch in Chase Bank’s ATM system to withdraw unlimited funds without having sufficient account balances.
The scheme involved depositing bad checks and immediately withdrawing the funds before the checks could be rejected.
Many TikTok users posted videos boasting about accessing “free money” through this so-called loophole.
However, Chase Bank has strongly refuted these claims, making it clear that the actions promoted in the trend are illegal.
Videos also posted to X have made the rounds on the popular social media site.
In a statement provided, a Chase representative said, “We are aware of this incident, and it has been addressed and regardless of what you see online, depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple.”
Law enforcement agencies have already begun investigating the individuals involved in this scheme, and several arrests have been made.
Legal experts caution that those participating in the trend could face severe penalties, including substantial fines and imprisonment.
Financial experts are urging the public to exercise caution when encountering viral trends that promise easy money.
As the investigation continues, customers are encouraged to report any suspicious activity and to avoid participating in fraudulent schemes.
The bank is also taking steps to enhance its security measures to prevent similar incidents in the future.