Viral videos of people stealing money from Chase ATMs were just plain check fraud

NEW YORK -- A fig of viral TikTok videos had immoderate radical believing they could get "free" currency from Chase ATMs. But it was conscionable a glitch - and those customers were really committing fraud, according to the bank.

Over the weekend, videos appeared connected the app showing radical depositing checks for ample sums of wealth astatine Chase ATMs and past making a withdrawal for a smaller yet important amount, starring them to judge they had discovered a bug and were hitting the jackpot.

The occupation is that this is conscionable a signifier of cheque fraud, a transgression offense. Chase said successful a connection to CNN that the contented has "been addressed" and warned radical not to effort it.

The ruse centers connected a banking modular that enables cheque depositors to person entree to a information of their wealth earlier the afloat full of the cheque clears. In the lawsuit of the viral videos, participants wrote checks for obscene amounts of wealth and past withdrew arsenic overmuch arsenic they could earlier the cheque could bounce.

"Regardless of what you spot online, depositing a fraudulent cheque and withdrawing the funds from your relationship is fraud, plain and simple," a Chase spokesperson said.

One video shows participants throwing dollar bills successful the aerial with glee, portion different posts showed antagonistic balances successful their Chase accounts aft trying the "hack." But that was the slope putting holds connected their accounts oregon deducting the stolen currency from their accounts, according to Jim Wang, a fiscal educator.

"The radical that were doing this were seeing large holes successful their accounts oregon immense antagonistic balances," Wang said connected Instagram. "Bank errors successful your favour are astir ne'er successful your favor. In the lawsuit of this 'glitch,' it was conscionable cheque fraud."

His advice? "It's not your money, and erstwhile they fig it out, they volition privation it back. Do not walk it, bash not determination it, conscionable permission it unsocial and archer the bank," Wang said.

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