Chase Warns Against Check Fraud Trend

Chase Bank warns users that a new TikTok trend goes by another name: fraud. Monday’s warning comes after some social media users claimed to have found a “glitch” that lets them withdraw money they don’t have. However, this so-called glitch is actually a criminal act. The scheme involves knowingly depositing bad checks into a Chase account, and then withdrawing the money before the check bounces. “Regardless of what you see online, depositing a fraudulent check and withdrawing the funds from your account is fraud, plain and simple,” Chase said in a statement. Some videos show customers shouting with joy after withdrawing the funds, while other videos show negative balances after the checks bounced. This “trend” is actually nothing new. “It’s called check kiting. And it’s been around since the invention of…checks,” Cornell University law professor Dan Awrey said. (The Guardian)