Chase Bank has identified a viral TikTok trend that claimed to offer “free cash” through a supposed “money glitch” as nothing more than check fraud. The trend involved users writing checks to themselves and withdrawing funds before the checks were processed, which the bank has confirmed is illegal. Participants in the trend now face the possibility of significant legal consequences.
The trend gained popularity on TikTok, with users posting videos of themselves withdrawing large sums of money and celebrating what they believed was a clever exploitation of a banking loophole. These individuals were taking advantage of a grace period provided by Chase Bank, during which funds from deposited checks are temporarily available before the checks are fully processed. The trend encouraged people to write large checks to themselves and withdraw the money immediately, believing they had found a way to get free cash.
Chase Bank responded by issuing a statement that clarified the situation. “Depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple,” said a Chase spokesperson. The bank has since taken action to shut down the so-called “glitch” and has warned those involved that they could face severe penalties.
Legal experts caution that individuals caught participating in check fraud could face significant fines and jail time. Misdemeanor charges for check fraud can result in up to one year in jail, while felony charges can lead to longer prison sentences and substantial fines.
This incident serves as a reminder of the dangers of engaging in illegal activities based on online trends.
